by Kyle Molyneux | Wed 31 Aug 2022
Epiroc moves to buy AARD
Epiroc, a productivity and sustainability partner for the mining and infrastructure industries, has signed an agreement to 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, specialising in low-profile underground machines for mines with low mining heights. The high-quality products include drill rigs, bolters, loaders, scalers, and more. 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 30th 2022, of about MSEK 650.
“AARD has reputable and reliable products that complement our underground product portfolio well,” said 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.” The acquisition is expected to be completed in the next few months.
Got a news story? Email news@earthmoversmagazine.co.uk.