On February 1, 2007, Foraco International, a global drilling services company, announced that it had acquired the Canadian operations of Connors Drilling Ltd., a privately owned exploration drilling company based in Kamloops, British Columbia with branch offices in Yellowknife, NWT. This acquisition adds approximately $15 million in revenue to Foraco.
Foraco International, privately owned and headquartered in Marseille, France, operates throughout the world providing a diverse range of drilling services for the water and mineral resource industries. Last year, the company established Foraco Canada Ltd. based in Ontario to provide diamond drilling services to the mining industry in North America. Foraco Canada has been growing rapidly and with this acquisition is in a position to meet the rapidly growing exploration demands of the mining industry nationally and abroad.
Fasken Martineau advised Foraco International in negotiating this purchase with a team comprised of Josh Lewis, Gavin Marshall (labour) and Doran Ingalls (IP).