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2022-04-29

Epiroc to acquire Australian mining electrification infrastructure provider

Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, has agreed to acquire JTMEC. The Australian company specializes in providing mines with electrical infrastructure, supporting the industry's transition to battery electrification. 

JTMEC, based in Perth, Australia, is an electrification infrastructure solutions provider for both underground and surface mines. The company's offerings include 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 MAUD 34 (MSEK 235).

"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," says Helena Hedblom, Epiroc's President and CEO. "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 second quarter 2022. The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.  To learn more about JTMEC, please see https://jtmec.com.au. 

[image] JTMEC

For more information please contact:
Ola Kinnander, Media Relations Manager
+46 70 347 2455
media@epiroc.com

Epiroc is a vital part of a sustainable society and a global productivity partner for mining and infrastructure customers. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of SEK 40 billion in 2021, and has more than 15 500 passionate employees supporting and collaborating with customers in more than 150 countries. Learn more at www.epirocgroup.com.

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