Epiroc to Acquire South African Mining Equipment Manufacturer, AARD Mining Equipment
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Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, has signed an agreement to acquire AARD Mining Equipment, a South African mining equipment manufacturer.
AARD, based near Johannesburg, South Africa, designs, manufactures, services, and supports a wide range of mining equipment, specializing in low-profile underground machines for mines with low mining heights. The high-quality products include drill rigs, bolters, loaders, scalers, and more. The company’s customers are mainly in the Southern Africa region. AARD has approximately 200 employees and had revenues in the fiscal year ending June 30, 2022, of about MSEK$650.
“AARD has reputable and reliable products that complement our underground product portfolio well,” said Helena Hedblom, Epiroc’s president and CEO.
“This acquisition will further strengthen our growth ambitions in Africa and beyond. We are looking forward to welcoming the great team at AARD to Epiroc,” added Hedblom.
“We are excited about the prospect of continuing to grow the business within the Epiroc Group,” said Mike Adendorff, AARD’s CEO.
The acquisition is expected to be completed in the next few months.
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 and has more than 15,500 employees supporting and collaborating with customers in more than 150 countries.
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