During the year the company actively acquired three companies including Premier Rock Tools, Seismic Supply and automated drill sampling equipment manufacturer, Metal Craft.

The moves followed a troubled previous twelve months which included a failed and bitter merger attempt in 2002 with International DrillQuip (legal papers are still being exchanged) and a move on another supply group, Dural, which not yet got over the line.

In early 2003 the company also secured a $US3.7 million order from Calgary-based driller Precision Drilling for the manufacture of components for well monitoring equipment.

Towards the end of the year, hot on the heals of its $16 million dollar placement which was used to cut debt and replenish working capital, SDS signed a Heads of Agreement to acquire hard rock mining supplier Normet Australia for $1.05 million.

The acquisition is to be finalised in early 2004 and will be funded by a combination of cash and new ordinary shares.