Epiroc is bolstering its exposure to the ground engaging tools (GET) market through the planned acquisition of Australia-based CR.
The company has agreed to acquire the GET and related digital solutions company as part of a plan to expand its “first-rate offering” of essential consumables and digital solutions, it says.
CR, which has an offering covering surface and underground mining, is headquartered in Brisbane and operates globally. The company’s products include cast lips, teeth, and protective shrouds installed on mining buckets and loaders. Its digital solutions include, among other offerings, the real-time GET loss detection system, GET Trakka, and the Titan 3330 payload management system. The solutions strengthen safety and productivity, and protect against expensive delays in the mining operations, according to CR.
CR has about 400 employees and had revenues of about A$240 million ($163 million) in the 12 months ending September 30, 2022.
“This acquisition will expand our offering of innovative and high-quality consumables and digital solutions that strengthen customers’ productivity and safety,” Helena Hedblom, Epiroc’s President and CEO, says. “We look forward to welcome the strong team at CR to Epiroc.”
The acquisition is expected to be completed in the first half 2023.