Epiroc has signed an agreement to acquire South Africa-based low-profile mining equipment manufacturing specialist, AARD Mining Equipment, in a deal that will see the Stockholm-based OEM further strengthen its growth ambitions in Africa and beyond, Helena Hedblom says.
AARD, based near Johannesburg, designs, manufactures, services and supports a wide range of mining equipment, specialising in low-profile underground machines for mines with low mining heights. Its product line includes drill rigs, bolters, loaders, scalers and more. The company’s customers are mainly in the southern Africa region, with the company having approximately 200 employees and revenues in the fiscal year ending June 30, 2022, of about SEK650 million ($62 million).
“AARD has reputable and reliable products that complement our underground product portfolio well,” Hedblom, Epiroc’s President and CEO, said. “This acquisition will further strengthen our growth ambitions in Africa and beyond. We are looking forward to welcoming the great team at AARD to Epiroc.”
Mike Adendorff, AARD’s CEO, added: “We are excited about the prospect of continuing to grow the business within the Epiroc Group.”
The acquisition is expected to be completed in the next few months, with the transaction containing conditions normal for transactions of this nature, including regulatory approval from the competition authorities.
AARD was established in 1983 as part of the Boart group of companies. It is currently wholly owned by Matasis Mining Equipment Pty Ltd. The company’s corporate office and manufacturing facility are based in Chamdor on the West Rand, some 55 km from OR Tambo International Airport.
AARD’s product range of trackless mobile mining machinery (TM3) is used extensively on more than 30 base metal, precious metal, coal and diamond mines in sub-Sahara Africa. Its engineering and technical teams can custom design and build bespoke machines to suit customer’s needs, according to the company, with modifications and changes to existing equipment, as well as complete or partial rebuilds, able to be undertaken at the factory in Chamdor, Gauteng.
AARD says it continuously undertakes research and development, factoring this into the design and manufacture of equipment that meets customer requirements for improving safety and productivity.
The company carries a full range of spares and major components for its product range and, with satellite warehouses in Kuruman, Steelpoort, Rustenburg and at some mines, says it is able to make spares available on a 24/7 basis.
Alongside its facilities in South Africa, it also has subsidiaries in Zambia (AARD Zambia, based on the Copperbelt) and Zimbabwe (AARD Zimbabwe, based in Harare, Zimbabwe).