Swedish mining and construction equipment manufacturer Epiroc is buying the 66% of US automation technology firm ASI Mining it doesn’t own. ASI Mining has increased annual revenues from US$6 million to about $28 million since Epiroc acquired its initial 34% stake.
The vendor is Utah-based Autonomous Solutions Inc, which remains focused on the broader industrial vehicle automation market.
Epiroc and ASI Mining are working on the US$100 million-plus Roy Hill iron ore mine mobile fleet autonomy project in Western Australia’s Pilbara region. Hancock Prospecting’s flagship A$10 billion mine is aiming to automate a mixed fleet of about 100 large mining trucks.
Epiroc, a publicly-traded company, hasn’t disclosed the ASI Mining acquisition price even though it exceeds the value of the Roy Hill contract.
The deal is subject to US regulatory approval. Epiroc said it expected to complete the transaction in the third quarter of this year.
“Epiroc and the innovative team at ASI Mining are already collaborating closely to bring the most advanced automation solutions to mining customers,” said Epiroc CEO Helena Hedblom.
“We look forward to complementing their solutions fully with our offering and together continue supporting customers on their automation journey.”
