Boart Longyear (BLY)

Shares / Stock Code

BLY

Stock Exchange / Sharemarket

ax

Boart Longyear (BLY) is a global leader in providing drilling services and drilling products for consumers in the mining and minerals, environmental and infrastructure, and energy industries. The Company listed on the Australian Stock Exchange on 5 April, 2007. Its head office is located in Salt Lake City, Utah. Boart Longyear has two main operating divisions: the Global Drilling Services and Global Products divisions. The Company’s Global Drilling Services division has its business operations in over 35 countries. This segment serves a diverse client base and it is focused on providing a range of drilling technologies, comprising diamond core drilling, rotary drilling and sonic drilling, to meet the needs of its clientele. Boart Longyear's Global Products segment deals with the development and wholesaling of capital equipment and cosumables to customers in the drilling services industry at global level. These products consist of rigs, coring tool and percussive tools. The Company acquired Britton Brothers Diamond Drilling in February 22, 2008. BLY completed the acquisition of Aqua Drilling & Grouting Pty Ltd in May 2008.

The Company’s competitive advantage over the others lies in its integrated business model. This has made it possible for the BLY's Drilling Services division to secure the required amount of drilling equipment in what is a supply-constrained market. Another distinguishing factor for the company is that it has significant operations on global scale.

Boart Longyear History

The Company has been engaged in the mining services sector for over 100 years. Boart Longyear was officially founded in 1994 when there was a merger of Boart International with the Longyear Company. BLY had operated as a wholly owned subsidiary of Anglo American from 1974 to 2005. The Company was sold by Anglo American to Advent International, Bain Capital and Management Investors in 2005. The Company then went through a restructuring phase before it was successfully listed on the Australian Stock Exchange ASX in April 2007.