Sweden's Epiroc invests in autonomous mining solutions business22.May 2019.
Epiroc, a Sweden-based productivity partner for the mining, infrastructure and natural resources industries, has acquired part of ASI Mining, LLC, a U.S.-based company that provides technology solutions for the autonomous operation of mining vehicles.
Epiroc has acquired 34% of ASI Mining, which is based in Mendon, Utah, United States, and is a subsidiary of Autonomous Solutions Inc. Its products include on-board hardware and software that convert vehicles to autonomous operation, as well as system level software platforms for command and control of autonomous fleets across various mining applications. The solutions integrate with various mobile mining equipment, regardless of make or model, and are used by mining customers globally. The business is estimated to have revenues in 2018 of more than USD 6 million.
“The investment in ASI Mining is part of our strategy to expand in automation and interoperability in the mining segment,” said Helena Hedblom, Epiroc’s Senior Executive Vice President Mining and Infrastructure. “This is the future in mining, and thegreat team at ASI Mining has developed state-of-the-art solutions that will enhance Epiroc’s delivery of productivity and safety improvements to customers worldwide.”
The purchase price is not material relative to Epiroc’s market capitalization and is not disclosed. ASI Mining will operate as a separate company partly owned by U.S.-based Epiroc Drilling Solutions LLC. Revenues and operating profit will not be consolidated.