Epiroc to acquire South Korean hydraulic breaker manufacturer
Epiroc has agreed to acquire DandA Heavy Industries, a South Korean manufacturer of hydraulic breakers used in construction and mining. The acquisition is expected to strengthen Epiroc's position in the tools and attachments market.
Swedish company Epiroc, focused on productivity and sustainability solutions for the mining and infrastructure industries, announced its agreement to acquire DandA Heavy Industries. The South Korean firm manufactures and sells hydraulic breakers, which are used for construction, demolition, rock excavation, and infrastructure projects.
DandA Heavy Industries, based near Seoul, South Korea, has approximately 60 employees. In 2020, the company reported revenues of around SEK 210 million. The transaction is anticipated to be completed by the end of the second quarter of 2021.
Helena Hedblom, Epiroc's President and CEO, stated that the acquisition will bolster Epiroc's leading position in hydraulic attachments for the construction sector and aligns with its long-term growth strategy. The acquired business will be integrated into Epiroc's Tools & Attachments division and will continue to operate from South Korea, retaining its brand and sales channels.
The financial terms of the deal have not been disclosed, but are described as not material relative to Epiroc's market capitalization. Epiroc provides equipment, tools, and services related to automation, digitalization, and electrification for customers in the mining and construction sectors.