SDS acquires Metal Craft

Australian drill maker SDS has completed a successful acquisition of the Metal Craft business.

The move follows a troubled twelve months that included last years bitter merger attempt with DrillQuip, a successful takeover of Seismic Supply, and ended in a return to profitability for the six months to December 2002.

The Metal Craft business is a fabricator of automated drill sampling equipment employing 25 people and with annual revenues of around $5 million.

SDS said the Metal Craft business would add a complimentary benefit to the company's in-house products and services, as well as future growth opportunities.