Epiroc to acquire Canadian mining electrification firm Meglab

Swedish industrial group Epiroc has entered into an agreement to acquire Meglab, a Canadian provider of electrification and telecommunications infrastructure for the mining industry. The transaction, expected to close in the second quarter of 2021, aims to accelerate the adoption of battery-electric vehicle systems in underground mining operations.

Meglab, based in Val-D’Or, Quebec, designs and manufactures essential infrastructure including substations, switchgears, and automation systems. The company employs over 240 staff and reported 2020 revenues of 49 million Canadian dollars. The financial terms of the acquisition remain undisclosed, with Epiroc noting the cost is not material to its market capitalization.

Epiroc CEO Helena Hedblom stated that the acquisition provides the necessary infrastructure support to facilitate the industry-wide transition toward emission-free mining equipment. The company has previously committed to offering its entire equipment range in battery-electric versions by 2030.

Following the acquisition, Meglab will operate within Epiroc’s Parts & Services division while maintaining its presence in Canada.