Epiroc to divest geotechnical consumables product line to Mimir Invest

Stockholm, Sweden: Epiroc, a leading productivity partner for the mining and infrastructure industries, has entered into an agreement to divest its geotechnical consumables product line. 

Epiroc agreed to sell the business to Mimir Invest AB, a global investment firm based in Stockholm, Sweden. The products are manufactured and assembled in Finland, Scotland and the United States, and consist mainly of large down-the-hole hammers and related drill bits and casing advancement systems. It is part of Epiroc’s Rock Drilling Tools division. About 40 Epiroc employees work with this product line and will follow the business. The business generated about SEK 275 million in revenue in 2018.

“We have found a better home for this business, which we have defined as a non-strategic core area for us,” said Helena Hedblom, Epiroc’s Senior Executive Vice President Mining and Infrastructure. “We believe it will have a good future with the new owner.”

The transaction is expected to be completed later this year. The sales price is not material to Epiroc’s market capitalization and is not disclosed.

For more information please contact: 
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com

Epiroc is a leading global productivity partner for the mining and infrastructure industries. With cutting-edge technology, Epiroc develops and produces innovative, safe and sustainable drill rigs, rock excavation and construction equipment and tools. The company also provides world-class service and solutions for automation and interoperability. Epiroc is based in Stockholm, Sweden, had revenues of SEK 38 billion in 2018, and has more than 14,000 passionate employees supporting and collaborating with customers in more than 150 countries. Learn more at www.epirocgroup.com.

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