Boart Longyear John Hoffmeister as president and chairman of the board of the company. FACTS was dissolved when Boart International (a wholly owned subsidiary of Anglo American) bought out CDP's interest in Longyear. In 1974, Boart International invested capital which helped Longyear to become the world's leading manufacturer of diamond bits. Boart Longyear engineers in North Bay, Ontario, secured a reliable source of high-performance synthetic diamonds, which triggered the development of a new bit design – the impregnated-diamond bit. With decades of powder metallurgy experience behind them, Longyear engineers set out to develop a new crown that consisted of synthetic diamonds evenly
Boart Longyear in the history of the ASX. The patented Stage™ waterway bit design was introduced and provided the first extended 25mm crown in the market. In 2008 Boart Longyear acquired Eklund Drilling, Britton Brothers, Aqua Drilling and Westrod Engineering. The new patented Quick Descent™ Core Barrel Assembly was launched. Early 2009, Paul Brunner retired as Chief Executive Officer of the Company and was succeeded by Craig Kipp, who had served for three years as Chief Operating Officer. Prior to joining the Company, Mr. Kipp was employed by General Electric from 1983 to 2005. In early 2010 Boart Longyear continued to introduce