Epiroc completes acquisition of ASI Mining

Epiroc already owned 34% of ASI Mining, which it acquired in 2018. The acquisition regards the remaining 66% of the company.

ASI Mining is based in Mendon, Utah, USA. The company, which was a subsidiary of Autonomous Solutions, Inc., is a leading provider of mining automation systems, such as remote control, teleoperation, and fully autonomous solutions. Its solutions are OEM agnostic, meaning they work regardless of machine brand and fit well for mixed fleets. The solutions strengthen mine safety and productivity while lowering emissions and total cost of operation. ASI Mining had revenues of about SEK 300 million in 2023.

Epiroc announced on 29 May 2024, that it had agreed to acquire the remaining shares of ASI Mining.

The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.

The transaction will lead to a positive revaluation effect of the ownership held prior to the acquisition in the segment Equipment & Service. The gain will be reported as an item affecting comparability in 3Q24.

Read the article online at: https://www.globalminingreview.com/mining/04072024/epiroc-completes-acquisition-of-asi-mining/