Imdex (ASX:IMD) to acquire Flexidrill - Sequoia Direct Pty Ltd

03DecDecember 3, 2019

Imdex (ASX:IMD) to acquire Flexidrill

Global mining-tech company, Imdex (ASX:IMD) is exercising its option to acquire Flexidrill and its patent protected drilling productivity technologies, Corevibe and Maghammer.

The transaction is expected to be completed in January 2020 for NZ$3 million cash.

Commenting on the proposed acquisition, Imdex Managing Director, Mr Bernie Ridgeway said the company is confident new technology will be a step-change for the minerals drilling industry globally and deliver significant earnings for Imdex.

Flexidrill is a leading New Zealand based developer of vibration and magnetic field assisted drilling technologies.

Shares in Imdex (ASX:IMD) closed 1.23 per cent higher at $1.645 yesterday.

Copyright 2019 – Finance News Network

Source: Finance News Network

Related Posts

26AugAugust 26, 2019

G8 Education sees a 20% fall in profit

26 Aug 2019 - G8 Education (ASX:GEM) today announced its results for the half-year ended 30 June 2019 showing net profit after tax (NPAT) reduced 20 per cent on the prior corresponding period to $19 million.

18SepSeptember 18, 2019

Air New Zealand targeting earnings of $350m-$450m

19 Sep 2019 - Air New Zealand (ASX:AIZ) released their investor update for August saying that based upon current market conditions and assuming an average jet fuel price of US$75 per barrel, the airline is targeting earnings before taxation to be in the range of $350 million to $450 million.

16OctOctober 16, 2019

Worley (ASX:WOR) responds to creeping acquisitions by Dar Group

16 Oct 2019 - Engineering company Worley (ASX:WOR) has notified the ASX of its operations to the Foreign Investment Review Board, in the context of possible creeping acquisitions by its largest shareholder, Dar Group.

13AprApril 13, 2022

Stocks of the Hour: Flight Centre, Iluka Resources & PointsBet

13 Apr 2022 - A snapshot of the stocks on the move featuring Flight Centre (ASX:FLT), Iluka Resources (ASX:ILU) & PointsBet (ASX:PBH).

14DecDecember 14, 2022

Stocks of the Hour: Eureka Group Holdings, Patriot Battery Metals, Bass Oil

14 Dec 2022 - A snapshot of the stocks on the move featuring Eureka Group Holdings (ASX:EGH), Patriot Battery Metals (ASX:PMT) and Bass Oil (ASX:BAS).

01AugAugust 1, 2021

Stocks of the Hour: Fortescue Metals, Iress & Macquarie Group

29 Jul 2021 - A snapshot of companies on the move featuring Fortescue Metals (ASX:FMG), Iress (ASX:IRE) & Macquarie Group (ASX:MQG).

16MarMarch 16, 2020

Downer EDI (ASX:DOW) suspends review of mining business

16 Mar 2020 - Downer EDI (ASX:DOW) announced back in August that it was undertaking a review of its portfolio, they have now decided to suspend this review due to the coronavirus.

10FebFebruary 10, 2020

Boral (ASX:BLD) confirms financial irregularities

10 Feb 2020 - Boral (ASX:BLD) has completed the investigation into their North American windows business after identifying financial irregularities.

15JunJune 15, 2020

Zlatko Todorcevski appointed new Boral (ASX:BLD) CEO & MD

15 Jun2020 - The Board of construction materials supplier, Boral (ASX:BLD) has appointed Zlatko Todorcevski as CEO and managing director to replace Mike Kane.

06DecDecember 6, 2019

Bubs Australia (ASX:BUB) completes $30m placement

06 Dec 2019 - Bubs Australia (ASX:BUB) has raised $30 million placement the placement was priced at 95 cents a share.