German firm Aker Solutions has sold its tunnel and shaft boring technology to China Railway Tunnelling Equipment (CRTE).
According to Aker it is part of the company’s plan to divest assets that don’t fit with its main offshore services strategy.
Aker Wirth is known in Australia for its tunnel boring technology, in particular the work done at the North Parkes mine.
However an Aker Wirth spokesperson told Australian Mining that its North Parkes equipment, which is part its Mobile Tunnel Miner technology, isn’t part of the sale deal.
CRTE will acquire the technological intellectual property rights and the right to use the Wirth brand name on tunnel and shaft boring machines that are based on the newly acquired technology.
However the acquisition does not include any employees or the manufacturing facility in Germany, which will remain part of Aker’s drilling technology business.
The value of the acquisition has not been disclosed.