Epiroc, a leading productivity and sustainability partner for the mining and construction industries, has agreed to acquire the remaining share of ASI Mining, a U.S.-based autonomous mining solutions company. Epiroc already owns 34% of ASI Mining, which it acquired in 2018. The acquisition regards the remaining 66% of the company.
ASI Mining is based in Mendon, Utah, United States. The company, a subsidiary of Autonomous Solutions, Inc., is a leading provider of mining automation systems, such as remote control, teleoperation, and fully autonomous solutions. Its solutions are OEM agnostic, meaning they work regardless of machine brand and fit well for mixed fleets. The solutions strengthen mine safety and productivity while lowering emissions and total cost of operation. ASI Mining had revenues of about MSEK 300 in 2023.
“Epiroc and the innovative team at ASI Mining are already collaborating closely to bring the most advanced automation solutions to mining customers,” says Helena Hedblom, Epiroc’s President and CEO. “We look forward to complementing their solutions fully with our offering and together continue supporting customers on their automation journey.”
The acquisition of the remaining share requires regulatory approval from U.S. competition authorities, and is expected to be completed in the third quarter 2024. The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
The transaction will lead to a positive revaluation effect of the ownership held prior to the acquisition in the segment Equipment & Service. The gain will be reported as an item affecting comparability in the third quarter 2024.
Source: Company Press Release
