Epiroc said it has signed an agreement to acquire AARD Mining Equipment, a South African mining equipment manufacturer. Based near Johannesburg, the company designs, manufactures, and supports a wide range of mining equipment, specializing in low-profile underground machines.
“AARD has reputable and reliable products that complement our underground product portfolio,” Epiroc President and CEO Helena Hedblom said. “This acquisition will further strengthen our growth ambitions in Africa and beyond.”
AARD’s line of equipment includes drill rigs, bolters, loaders, scalers and more. The company’s current customers are mainly in southern Africa. AARD has approximately 200 employees and annual revenues of about MSEK 650 ($61.5 million).
“We are excited about the prospect of continuing to grow the business within the Epiroc Group,” AARD CEO Mike Adendorff said. The acquisition is expected to be completed in the next few months.
