December 3, 2019
Epiroc sold 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 was part of Epiroc’s Rock Drilling Tools division. The approximately 40 employees who work at the facility were offered to transfer to the new owner.
Epiroc announced on October 23, 2019, the agreement to sell the facility to Monark.
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
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.