Epiroc has acquired Fordia, a Canadian exploration tools manufacturer

Fordia Group Inc., a world-class Canadian manufacturer of diamond tools and equipment for the mineral exploration and geotechnical sectors joins the Epiroc team, a leading productivity partner for the mining, infrastructure and natural resources industries. Fordia has about 250 employees and had revenues for the 12 months ending September 2018 of about €56 million.
Becoming part of the Rock Drilling Tools division of the Stockholm-based company, the Fordia brand, along with their solid team and current network will be leveraged. Therefore, Fordia will continue to offer its solutions dedicated to improving the performance of its customers. With this acquisition, Epiroc increases its focus on the mineral exploration sector a focus that will be well-served through the quality products and outstanding service that already make the reputation of Fordia.
Helena Hedblom, Epiroc’s Senior Executive Vice President Mining and Infrastructure has said that this acquisition is strategically important as they have increased their focus on the exploration segment. She has added that the solid team at
Fordia will play a key role as they continuously strengthen their value offering to customers.
The acquisition is expected to be completed in the first quarter 2019. The purchase price is not material relative to Epiroc’s market capitalization and is not disclosed. The business will become part of Epiroc’s Rock Drilling Tools division, and will continue to be based in Montreal.