Continuing along its path of acquisitions, Epiroc has acquired Innovative Mining Products, better known as New Concept Mining – the South African manufacturer of rock reinforcement products for underground mining.
The acquisition, which is expected to be completed in the first quarter of 2019 (pending regulatory approval, is the latest in a string of acquisitions by Epiroc.
Epiroc this month announced its acquisition of Estonian distributor of mining and construction equipment Sautec, the acquisition of Canada-based exploration company Fordia in October, as well as the acquisition of South African drilling consumables manufacturer Renegade Drilling Supplies in December 2017.
“The acquisition of New Concept Mining is in line with the company’s target to grow with 8% per annum – which it aims to reach by means of undertaking ‘bolt-on’ type acquisitions that benefit the larger Epiroc product and service offering,” says Epiroc president and CEO Per Lindberg.
According to New Concept Mining's website, the acquisition of New Concept Mining by Epiroc will make it even easier for its customers to continue benefiting from the expertise, innovation and customer service that client's have come to expect from New Concept Mining due to Epiroc’s more enhanced global supply chain.
Johannesburg, South Africa-based New Concept Mining manufactures a comprehensive range of underground mining roof support products, rock monitoring systems and related accessories.
New Concept Mining, which also has facilities in Peru, Canada and Zambia, employs about 900 people and will join Epiroc’s rock drilling tools division and will continue to be based in Johannesburg.
“The acquisition will enable us to strengthen our global position in the hard rock bolting market,” says Epiroc senior executive vice president for mining and infrastructure Helena Hedblom. “We are happy to combine forces with the strong team at New Concept Mining to bring the best rock reinforcement solutions to mining customers,” she adds.