Mining equipment maker Epiroc has bought one of the world’s leading specialised mining control-system engineers, 50-year-old Australian business RCT Global, without disclosing the price.
The circa-A$85 million-a-year (US$55mpa) RCT, formerly Remote Control Technologies, was founded by respected Western Australian inventor and business leader, Bob Muirhead, in Kalgoorlie in 1972.
It has attracted its fair share of suitors over the years.
RCT started as an electrical engineering firm and became an exporter of mine-vehicle remote control systems to more than 70 countries. It also developed tele-remote and semi-autonomous controls. In 1987 it listed on the Australian Securities Exchange as Automotive Industrial Mining Supplies and by 2002 was back in private hands.
Earlier this year RCT said it had seven branches and more than 270 staff.
Epiroc said this week it had about 225 employees.
“We look forward to welcoming the strong RCT team to Epiroc,” CEO Helena Hedblom said.
The deal, which continues a spate of acquisitions involving Australian-based mining technology companies over the past five years, is expected to be wrapped up in the current quarter.