Imdex completes Flexidrill acquisition

SYDNEY: Leading global Mining-Tech company, Imdex Limited has completed the acquisition of Flexidrill and its patent protected technologies, COREVIBE™ and MAGHAMMER™, following payment of NZ$3 million cash.

Commenting on the acquisition, IMDEX Managing Director, Mr Bernie Ridgeway said: “Flexidrill  is  an  excellent  strategic  fit.  We  are  confident  these  new  technologies  will  provide  substantial  value  to  our  clients  within  the  minerals  industry  and  significant  revenue  and  earnings for IMDEX. During the balance of FY20 we will continue to focus on introducing COREVIBE™ to clients globally and further development of MAGHAMMER™, including client trials.”

IMDEX  will  provide  an update  regarding  COREVIBE™  and  MAGHAMMER™ with  its   1H20 results announcement on 17 February 2020.

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