Epiroc to acquire key assets from Australian mining equipment manufacturer Schramm Australia
Epiroc has agreed to purchase key assets from Schramm Australia, a manufacturer of reverse circulation drilling products. The acquisition includes intellectual property and production facilities, strengthening Epiroc's market position.
Epiroc announced on May 17, 2023, that it has agreed to acquire key assets from Schramm Australia. Schramm Australia, a manufacturer specializing in reverse circulation (RC) drilling equipment, has been in voluntary administration since February 2023.
The acquisition encompasses intellectual property, two production facilities located near Perth, and two service centers in Queensland and South Australia. Epiroc will continue the business operations for the benefit of customers and plans to offer employment to Schramm Australia's staff.
"The Schramm products and brand are well known as a global leader in reverse circulation technology," stated Helena Hedblom, Epiroc's President and CEO. The transaction is expected to consolidate Epiroc's offerings in the Australian mining sector.
The asset purchase is anticipated to be finalized in the second quarter of 2023. Epiroc operates as a global productivity partner for customers in the mining and infrastructure industries, aiming to accelerate the transition to a sustainable society.