Epiroc completes acquisition of South Africa’s New Concept Mining
Epiroc, a leading productivity partner for the mining and infrastructure industries, has completed the acquisition of New Concept Mining, a South African manufacturer of rock reinforcement products for underground mining.
New Concept Mining is based in Johannesburg, South Africa, and has facilities also in Peru, Zambia and Canada. It manufactures a comprehensive range of underground mining roof support products, rock monitoring systems and related accessories. New Concept Mining has about 900 employees and had revenue in 2018 of ZAR 1 007 million (SEK 645 million). The company is registered as Innovative Mining Products (Proprietary) Limited, but is trading and is widely known as New Concept Mining.
Epiroc announced on November 6, 2018, that it had agreed to acquire New Concept Mining.
The purchase price is not material relative to Epiroc’s market capitalization and is not disclosed. The business becomes part of Epiroc’s Rock Drilling Tools division, and will continue to be based in Johannesburg. To learn more about the business, please see www.newconceptmining.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. Source: Cision