Underground construction equipment and sprayed concrete chemicals manufacturer Normet strengthens its tunnelling offering through the acquisition of the Meyco dry spraying business from Atlas Copco.
Specifically, the deal covers the Piccola and GM product line of dry concrete sprayers, which were themselves acquired as part of Atlas Copco’s acquisition of the Meyco product line and brand from BASF in 2013. The latest sales agreement between Normet and Atlas Copco effectively splits the Meyco wet and dry concrete spraying product offering, with Atlas Copco retaining Meyco’s wet spraying business line.
Under the terms of the deal Normet will have the right to use the Meyco brand name for the Piccola and GM models for two years from the transfer date.
The dry spraying business has been the foundation of Meyco for more than 50 years. Atlas Copco acquired the Meyco equipment business from BASF Construction Chemicals Europe AG in 2013.
“This acquisition is a good strategic fit for Normet as it broadens the offering for our existing customers in mining and tunnelling,” said Tom Melbye, President of Normet Group and Managing Director of Normet International Ltd. He added: “It also complements our offering of new technologies in Construction Chemicals, especially with respect to the application of the Tamseal 800 waterproofing sprayable membrane.”
The acquired business will form Normet’s Meyco Dry Spraying product line, which will be headed by Tom Kurth, former Managing Director of Meyco Equipment and Business Development Manager at Atlas Copco Meyco AG. Manufacture of the Piccola and GM dry spraying product lines will continue in Switzerland. Sales and service of Meyco dry spraying products will be handled through long-term established distributors and through Normet’s own worldwide network. The distribution and logistics of spare parts will be managed through Normet’s Global Logistics Center in The Netherlands.
The purchase price has not been disclosed.