Epiroc acquires stake in autonomous mining solutions company
Epiroc has acquired a 34% stake in ASI Mining, a U.S.-based company that develops technology for autonomous mining vehicle operation. The deal strengthens Epiroc's automation strategy.
Epiroc, a supplier of equipment to the mining and infrastructure industries, has acquired a 34% stake in ASI Mining LLC. The Mendon, Utah-based company specializes in technology solutions for the autonomous operation of mining vehicles.
ASI Mining's products include onboard hardware and software to convert vehicles for autonomous use, as well as fleet management systems for controlling autonomous vehicles. Their solutions are used by mining customers globally and are designed to integrate with equipment from various manufacturers.
ASI Mining's estimated revenues for 2018 are over $6 million USD. Epiroc stated the acquisition is part of its strategy to expand in automation and interoperability within the mining segment.
"This is the future in mining, and the great team at ASI Mining has developed state-of-the-art solutions," said Helena Hedblom, Epiroc's Senior Executive Vice President Mining and Infrastructure. The purchase price was not disclosed, but Epiroc said it is immaterial relative to the company's market capitalization.