Edition:
United Kingdom

Epiroc to acquire South African underground rock reinforcement products manufacturer


Tuesday, 6 Nov 2018 

Nov 6 (Reuters) - Epiroc AB ::EPIROC TO ACQUIRE SOUTH AFRICAN UNDERGROUND ROCK REINFORCEMENT PRODUCTS MANUFACTURER.SAYS INNOVATIVE MINING PRODUCTS HAS ABOUT 900 EMPLOYEES AND HAD REVENUE IN PAST 12 MONTHS THROUGH SEPTEMBER 30, 2018, OF ABOUT ZAR 950 MILLION (SEK 600 MILLION).SAYS ACQUISITION IS EXPECTED TO BE COMPLETED IN Q1 2019, PENDING APPROVAL FROM REGULATORY AUTHORITIES.THE PURCHASE PRICE IS NOT MATERIAL RELATIVE TO EPIROC’S MARKET CAPITALIZATION AND IS NOT DISCLOSED.