Epiroc to Acquire Australian Mining Electrification Infrastructure Provider JTMEC
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Swedish mining equipment manufacturer Epiroc has agreed to acquire Australian mining electrification infrastructure provider JTMEC, for an undisclosed sum.
JTMEC is engaged in providing of electrification infrastructure solutions for both underground and surface mines. It also manufactures electrical substations and mine chargers.
The company offers high voltage installation and maintenance work, transformer servicing and testing, engineering design, feasibility studies, along with training.
JTMEX is currently providing services to Australian mine sites including Olympic Dam, Dargues Gold Mine, DeGrussa Copper Mine, and North Parkes, according to the Australian Mining’s report.
The company employed 190 employees and had generated around $34 million in revenues in the fiscal year ending June 30, 2021.
The transaction is expected to be completed in the second quarter 2022, and is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
“Battery electrification represents the future in the mining industry, and the strong team at JTMEC is playing an important role in enabling this vital transformation,” said Epiroc President and CEO Helena Hedblom.
“This acquisition will further strengthen our ability to support mining customers on their electrification journey toward less emissions, improved work conditions, and higher productivity. JTMEC is also a strong complement to Meglab, which we acquired in 2021,” added Hedblom.
Based in Stockholm, Sweden, Epiroc provides safe equipment, such as drill rigs, rock excavation and construction equipment and tools, for mining applications. The company also offers advanced service and other aftermarket support along with automation, digitalization, and electrification solutions.
Epiroc has more than 15,500 employees supporting customers in more than 150 countries, and has generated SEK40 billion ($4 billion) in revenues, last year.
Last month, Epiroc has been awarded a large order for battery-electric mining equipment from Assmang, to be used at a manganese ore mine in South Africa.
Assmang has ordered several battery loaders and mine trucks, including the Scooptram ST14 Battery and Minetruck MT42 Battery respectively, with plans to be deployed at its Black Rock underground mine in the Northern Cape Province.
Source: NS Energy
About Epiroc
Epiroc is a vital part of a sustainable society and a global productivity partner for mining and infrastructure customers. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of SEK$36 billion in 2020, and has 14,000 passionate employees supporting and collaborating with customers in about 150 countries.
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