Epiroc to acquire AARD Mining Equipment
Published by Jessica Casey,
Editor
Global Mining Review,
Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, has signed an agreement to acquire AARD Mining Equipment, a South African mining equipment manufacturer.
AARD, based near Johannesburg, South Africa, designs, manufactures, services and supports a wide range of mining equipment, specialising in low-profile underground machines for mines with low mining heights. The high-quality products include drill rigs, bolters, loaders, scalers, and more. The company’s customers are mainly in the Southern Africa region. AARD has approximately 200 employees and had revenues in the fiscal year ending 30 June 30 2022 of approximately SEK 650 million.
“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. We are looking forward to welcoming the great team at AARD to Epiroc.”
“We are excited about the prospect of continuing to grow the business within the Epiroc Group,” added Mike Adendorff, AARD’s CEO.
The acquisition is expected to be completed in the next few months.
Read the article online at: https://www.globalminingreview.com/finance-business/26082022/epiroc-to-acquire-aard-mining-equipment/
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