Epiroc says it has agreed to acquire JTMEC, an Australia-based company specialising in providing mines with electrical infrastructure, which supports the industry’s transition to battery electrification.
JTMEC, based in Perth, is involved in both underground and surface mines, with an offering that includes high voltage installation and maintenance work, transformer servicing and testing, engineering design, feasibility studies and training. It also manufactures electrical products including substations and mine chargers.
JTMEC has 190 employees and had revenues in the fiscal year ending June 30, 2021, of about A$34 million ($24 million).
“Battery electrification represents the future in the mining industry, and the strong team at JTMEC is playing an important role in enabling this vital transformation,” Helena Hedblom, Epiroc’s President and CEO, said. “This acquisition will further strengthen our ability to support mining customers on their electrification journey toward less emissions, improved work conditions and higher productivity. JTMEC is also a strong complement to Meglab, which we acquired in 2021.”
The acquisition is expected to be completed in the June quarter 2022, with the transaction not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.