Mets Investor > Deals-finance

Imdex looks for drilling boost

Imdex (AU:IMD) has signed an option pact to acquire two New Zealand-based companies, Flexidrill and Flexidrill Construction, as it looks to get hold of the innovative drilling productivity technologies the two have developed.

Haydn Black*

Mets Investor > Deals-finance

Imdex looks for drilling boost

Imdex (AU:IMD) has signed an option pact to acquire two New Zealand-based companies, Flexidrill and Flexidrill Construction, as it looks to get hold of the innovative drilling productivity technologies the two have developed.

Haydn Black*

Imdex looks for drilling boost

The addition of Flexidrill and Flexidrill Construction's products would boost Imdex's market share in the space

Flexidrill and Flexidrill Construction are behind the patented CoreVIBE and MagHAMMER technologies. These two, which are said to be unique and ready to be commercialised, are based around vibration and magnetic-field assisted drilling.