Swedish mining OEM Epiroc has said it will acquire AARD Mining Equipment, a South African mining equipment manufacturer.
AARD, based near Johannesburg, South Africa, designs, manufactures, services and supports a wide range of mining equipment, specializing in low-profile underground machines for mines with low mining heights.
Financial details of the deal were not disclosed.
The company’s customers are mainly in the Southern Africa region. AARD has approximately 200 employees and had revenues in the fiscal year ending June 30, 2022, of about SK650 million (US$61.4 million).
“AARD has reputable and reliable products that complement our underground product portfolio well,” says Helena Hedblom, Epiroc’s President and CEO. “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.”
“We are excited about the prospect of continuing to grow the business within the Epiroc Group,” says Mike Adendorff, AARD’s CEO.
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