Epiroc to Acquire Canada-based Ground Support Solutions Business Yieldpoint
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Epiroc has agreed to acquire the business of Yieldpoint Inc., a Canadian company that provides advanced ground support solutions that strengthen safety for mining and civil engineering applications.
Yieldpoint is based in Kingston, Ontario, Canada, and has about ten employees. The company designs, manufactures, and sells advanced digital geotechnical instruments, and has customers worldwide. The products, which include ground movement sensors and telemetry solutions, are primarily used for underground mining, tunnelling, and civil construction applications. Yieldpoint’s solutions help digitalize the ground support and create a safer working environment.
“Proper ground support is crucial to safe mining and infrastructure operations. Yieldpoint’s smart and robust monitoring solutions complement our ground support offering well, and expand our portfolio of digital solutions,” said Helena Hedblom, Epiroc’s president and CEO.
“Together we will offer high-tech ground support solutions that allow customers to operate in a safer environment and spend more time focusing on their operations. We look forward to welcoming the experienced and professional Yieldpoint team to Epiroc,” added Hedblom.
The acquisition is expected to be completed towards the end of the second quarter 2024. The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
Epiroc is a global productivity partner for mining and construction customers, and accelerates the transformation toward a sustainable society. 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 and has around 18,100 passionate employees supporting and collaborating with customers in around 150 countries.
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