Epiroc to acquire South African mining equipment maker AARD
7 Sept 2022
Acquisition of manufacturer of wide range of mining equipment to bolster Swedish company’s growth in African and adjoining markets
Mining equipment and solutions heavyweight Epiroc has signed an agreement to acquire AARD Mining Equipment, a South African mining equipment manufacturer.
According to a statement from the Swedish company, 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.
AARD’s “high-quality products” include drill rigs, bolters, loaders, scalers and more, said Epiroc, adding that the company’s customers are mainly in the Southern Africa region. AARD has approximately 200 employees.
Helena Hedblom, Epiroc’s president and CEO, said: “AARD has reputable and reliable products that complement our underground product portfolio well. 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.”
Mike Adendorff, AARD’s CEO, added: “We are excited about the prospect of continuing to grow the business within the Epiroc Group.”
The acquisition is expected to be completed in the next few months. The transaction contains conditions normal for transactions of this nature, including regulatory approval from the competition authorities.