Currently viewing Global edition

Robit joins with BIA in Africa

Finland’s Robit Group says a new distribution agreement with Belgium-based BIA Group will boost its presence in central and West Africa.
Robit joins with BIA in Africa Robit joins with BIA in Africa Robit joins with BIA in Africa Robit joins with BIA in Africa Robit joins with BIA in Africa

Finland drill bit manufacturer Robit has signed a new Africa distribution agreement with BIA Group

Staff reporter

The Helsinki-listed Robit (ROBIT) said BIA would represent it in 17 countries, including the region's major gold and copper producing jurisdictions, and that the partnership had been developed "to ensure highest possible services levels for drillers in West and Middle African countries".

"Robit has nine of its own sales and service points throughout the world as well as an active sales network in 100 countries," the company said.

Robit, which supplies top hammer and down-the-hole drilling products, has manufacturing facilities in Finland, South Korea, Australia and the UK.

Privately-owned BIA distributes a wide range of mining, construction and transport equipment, and provides parts and services.

Robit's net sales were up 5.6%, year-on-year, in the first nine months of this year at EUR67.9 million. The company suspended its full-year guidance due to COVID uncertainty in March. Last month it said the outlook for the rest of the year "has become clearer and this allows restoring the guidance for the year 2020".

"Robit estimates 2020 net sales and euro-denominated adjusted EBITDA to grow from financial year 2019," the company said.

Robit's share price was up more than 5% early today, capitalising the company at more than EUR75 million.