Epiroc has agreed to acquire Innovative Mining Products Pty Ltd. (IMP), widely known as New Concept Mining, a South African manufacturer of rock reinforcement products for underground mining. Based in Johannesburg, South Africa, IMP also has facilities in Peru, Zambia and Canada. It manufactures a comprehensive range of underground mining roof support products, rock monitoring systems and related accessories. Innovative Mining Products has about 900 employees and had revenue in the past 12 months through September 30 of about ZAR 950 million ($67 million).
“This acquisition will enable us to strengthen our global position in the hard rock bolting market,” said Helena Hedblom, Epiroc senior executive vice president of mining and infrastructure. “We are happy to combine forces with the strong team at IMP to bring the best rock reinforcement solutions to mining customers.”
The acquisition is expected to be completed in the first quarter of 2019, pending approval from regulatory authorities. The business will become part of Epiroc’s Rock Drilling Tools division, and will continue to be based in Johannesburg.