Mincon buys remaining US stake

Shannon-based mining equipment firm Mincon yesterday acquired the minority interest in Mincon Rockdrills USA for $2.42m (€1.97m). The transaction, when complete, will make the US firm a wholly owned subsidiary of Mincon.

In 2003, Mincon purchased 50% of the business and increased its shareholding to 75% a year later.

The American facility in Benton, Illinois specialises in down-the-hole (DTH) and horizontal directional drilling (HDD) bits.