Epiroc to Acquire South African Mining Equipment Manufacturer AARD
Epiroc has signed an agreement to acquire AARD Mining Equipment, a South African maker of mining equipment with a focus on low-profile underground machines. The deal aims to strengthen Epiroc's growth in Africa.
Epiroc AB, a global productivity partner for the mining and infrastructure industries, announced August 25, 2022, that it has signed an agreement to acquire AARD Mining Equipment, a South African manufacturer. The acquisition is expected to enhance Epiroc's presence and growth within the African market.
AARD, based near Johannesburg, specializes in designing, manufacturing, servicing, and supporting low-profile underground mining machines for mines with limited height. The company's product range includes drill rigs, bolters, loaders, and scalers, primarily serving customers in the Southern Africa region. For the fiscal year ending June 30, 2022, AARD reported revenues of approximately MSEK 650 and employed about 200 people.
"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." The transaction is subject to customary closing conditions, including regulatory approval from competition authorities, and is expected to be completed in the coming months.
Epiroc, headquartered in Stockholm, Sweden, provides equipment and services for drilling, rock excavation, and construction. The company focuses on increasing productivity and sustainability for its global customer base in the mining and infrastructure sectors.