Major Drilling Announces Purchase Entry into the Environmental Drilling Sector
MONCTON, March 31 /CNW/ – Major Drilling is pleased to announce its entry into the environmental drilling sector with the purchase of SMD Services of Huntsville, Alabama. SMD Services was founded in May 2009 by two highly experienced executives with over 35 years experience in the drilling industry.
While being a start up venture, SMD provides an excellent platform for growth in this sector. SMD has a small fleet of sonic, probe, and auger drills and the company was purchased at a total price of $4 million. Major Drilling will immediately inject $5 million into this new division now called Major Drilling Environmental.
"During the last recession, environmental drilling proved to be very resilient in North America. Furthermore, the addition of sonic drilling expertise which we are acquiring through SMD will enhance our specialized drilling capabilities globally" said Mr. McGuire President & CEO of Major Drilling. "With continued investment in this sector, we see the opportunity for both future growth and for greater diversification."
Based in Moncton, New Brunswick, Major Drilling Group International Inc. is one of the world's largest metals and minerals contract drilling service companies. To support its customers' mining operations, mineral exploration and environmental drilling activities, Major Drilling maintains operations in Canada, the United States, South and Central America, Australia, Indonesia, Mongolia, Armenia, and Africa.