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Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and construction industries, has completed the acquisition of the business of Weco Proprietary Limited, a South African manufacturer of precision-engineered rock drilling parts and provider of related repairs and services.
Weco is based near Johannesburg, South Africa. The company, which has more than four decades of industry experience, has about 80 employees and had revenues in the fiscal year ending May 31, 2023, of about MZAR 160 (MSEK 90). Weco's customers are mainly underground mining companies in the Southern African region.
Epiroc announced (https://www.epirocgroup.com/en/media/corporate-press-releases/2023/20231212-epiroc-to-acquire-the-business-of-leading-rock-drilling-parts-manufacturer-in-south-africa) on December 12, 2023, that it had agreed to acquire Weco.
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.
[image] Weco's facility near Johannesburg, South Africa
For more information please contact:
Ola Kinnander, Media Relations Manager
+46 70 347 2455
Epiroc is a global productivity partner for mining and construction customers, and accelerates the transformation toward a sustainable society. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of more than SEK 60 billion in 2023, and has around 18 200 passionate employees supporting and collaborating with customers in around 150 countries. Learn more at www.epirocgroup.com.