Epiroc acquires full ownership of autonomous solutions provider ASI Mining
Epiroc has completed the acquisition of the remaining shares in U.S.-based ASI Mining, a provider of autonomous mining solutions. The deal consolidates Epiroc's position in mine automation technology.
Epiroc, a global supplier of equipment and services for the mining and construction industries, has finalized the purchase of the remaining 66% of U.S.-based ASI Mining. Epiroc previously held a 34% stake in the autonomous solutions company, acquired in 2018. The full acquisition aims to strengthen Epiroc's offerings in automation for mining operations.
ASI Mining, headquartered in Mendon, Utah, specializes in mining automation systems, including remote control and fully autonomous solutions. Its technology is designed to be original equipment manufacturer (OEM) agnostic, meaning it can be applied to equipment from various brands, enhancing safety and productivity in mixed fleets.
The transaction is expected to positively impact Epiroc's Equipment & Service segment through a revaluation of the previously held ownership. ASI Mining reported revenues of approximately SEK 300 million in 2023. The financial terms of the acquisition were not disclosed.
This move aligns with Epiroc's strategy to accelerate the adoption of automation and digitalization in the mining sector. The gain from the revaluation will be reported in the third quarter of 2024.