Epiroc acquires South African manufacturer New Concept MiningPublished 27/6 at 16:48
Epiroc has completed the acquisition of New Concept Mining, a South African manufacturer of rock reinforcement products for underground mining.
New Concept Mining is based in Johannesburg, South Africa, and also has facilities located in Peru, Zambia and Canada. It manufactures a comprehensive range of underground mining roof support products, rock monitoring systems and related accessories. New Concept Mining has about 900 employees and had revenues in 2018 of approximately €600M. The company is registered as Innovative Mining Products (Proprietary) Limited, but trades and is widely known as New Concept Mining.
Epiroc announced on 6 November 2018 that it had agreed to acquire New Concept Mining. The purchase price is not material relative to Epiroc’s market capitalisation and is not disclosed. The business becomes part of Epiroc’s Rock Drilling Tools division, and will continue to be based in Johannesburg.