October 23, 2019
Epiroc agreed to sell the facility and its business to an affiliate of Monark AS, a rock drilling tools manufacturer based in Hof, Norway. The new owner will continue to supply Epiroc with products, mainly rods for handheld drilling, which are used by customers in construction and mining. The facility is part of Epiroc’s Rock Drilling Tools division. The approximately 40 employees who work at the facility will be offered to transfer to the new owner.
“This manufacturing facility is better suited with a new owner that can bring additional products into production that are not sold by Epiroc today,” said Helena Hedblom, Epiroc’s Senior Executive Vice President Mining and Infrastructure. “We believe Monark will be a good long-term owner of the facility and a reliable supplier for Epiroc.”
The transaction is expected to be completed this year. The sales price is not material to Epiroc’s market capitalization and is not disclosed.
More information on Monark is found on their website.
For more information, please contact:
Ola Kinnander, Media Relations Manager
+46 70 347 2455
Karin Larsson, Vice President Investor Relations
+46 10 755 0106
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.