Mincon buys PPV Finland

Mincon Nordic, a subsidiary of Mincon Group, has completed the acquisition of PPV Finland.

Mincon buys PPV Finland

With sales of approximately €3 million (US$3.3 million) in 2016, PPV designs, develops and sells contracting tools for the foundation and well-drilling industries.

These products are particularly suitable for difficult ground conditions, and where ground disruption must be minimised, such as heavily built-up areas or offshore.

The core products are overburden drilling systems, large-diameter rock bits, drill string components, large-diameter hammers, modification sets for rigs, rock socket grouting systems for large-diameter piling and products that can be used on- and offshore.

Mincon has also signed a four-year manufacturing agreement for the PPV product range with the current supplier, Lehti Group. Mincon plans to mature and staff this strategic development by integrating it within its recently formed engineering and sales hub Mincon Nordic, based in Finland.

Phil Dixon, regional sales manager at Mincon, stated: "This acquisition forms part of Mincon's growth strategy, as we look to offer products that both complement and extend our existing product portfolio. We are very excited to announce the addition of the PPV range to our offering, as we continue to extend our reach into new markets.

"In focusing on the geotechnical and construction sectors over the past few months, we have released all new designs of 12in [305mm] and 18in hammers and bits. Now with the addition of PPV's range of overburden systems and their 34in hammers with very large-diameter bits, we believe we have a proven solution to offer our customers whether that be in piling, tunnelling or construction applications."