Mining equipment manufacturer Epiroc is buying control of circa-US$100 million-a-year Australian mine and infrastructure communications company, Radlink, to improve its local support capability for autonomous and remote-controlled heavy vehicle fleets.
Stockholm-listed Epiroc said it didn’t have to disclose the price it was paying for the 53% stake in Radlink under EU public-company disclosure rules.
It described 15-year-old Radlink as a supplier of integrated wireless data and voice communication networks and supporting infrastructure to surface and underground mines in Australia.
“Robust wireless networks are vital to support mining automation, including autonomous and teleremote solutions, which in turn strengthen safety and productivity,” Epiroc said.
The privately-owned, Perth-headquartered company is said to have about 330 employees. Epiroc said its revenues in the fiscal year ending June 30, 2022, were about A145 million, or SEK1040 million.
The acquisition is expected to be completed in the next quarter.