Epiroc to divest handheld drilling consumables manufacturing facility in Sweden
Wednesday, October 23rd, 2019
Epiroc AB, a leading productivity partner for the mining and infrastructure industries, has entered into an agreement to sell its handheld drilling consumables manufacturing facility in Ockelbo, Sweden.
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.http://www.epirocgroup.com