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Epiroc signs agreement to acquire Eventspec in South Africa
Yahoo Finance· 2026-03-10 10:22
Core Viewpoint - Epiroc has signed an agreement to acquire Eventspec, a mining aftermarket solutions provider based in Johannesburg, South Africa, which will enhance Epiroc's manufacturing capabilities and expand its product portfolio in the African region and beyond [1][2]. Group 1: Acquisition Details - The acquisition of Eventspec will be incorporated into Epiroc's Equipment & Service Business Area and recorded under the Service revenue stream [2]. - The transaction is expected to be finalized in early Q3 2026, pending standard regulatory approvals [3]. - Eventspec specializes in producing components for drill rigs, mine trucks, and loaders, and offers rebuilds, repairs, and associated services, employing approximately 120 people [1]. Group 2: Company Background - Epiroc is headquartered in Stockholm, Sweden, and employs around 19,000 individuals globally, with a significant presence in South Africa [3]. - The company develops equipment for both surface and underground applications and provides services that include automation, digitalization, and electrification solutions [3]. Group 3: Recent Developments - In July 2025, Epiroc secured an order from Sociedad Punta del Cobre (Pucobre) in Chile for underground mine trucks and digital solutions, valued at Skr235 million (approximately $24.6 million), aimed at improving productivity, cost-effectiveness, and safety [4].