STOCKHOLM, SWEDEN-- Epiroc, a leading productivity and sustainability partner for the mining and construction industries, has agreed to acquire the business of Weco Proprietary Limited, a South African manufacturer of precision-engineered rock drilling parts and provider of related repairs and services.
Weco is based near Johannesburg, South Africa. The company, which has more than four decades of industry experience, has about 80 employees and had revenues in the fiscal year ending May 31, 2023, of about MZAR 160 (MSEK 90). Weco’s customers are mainly underground mining companies in the Southern African region.
“This acquisition will strengthen our manufacturing capabilities and expand our product portfolio of spare parts in the growing and important African region,” says Helena Hedblom, Epiroc’s president and CEO. “We look forward to welcoming the strong team at Weco to the Epiroc Group.”
The acquisition is subject to customary regulatory filings and is expected to be completed in the second quarter 2024. The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.