Epiroc acquires Canadian exploration tools manufacturer
7 January 2019Canada – Epiroc has acquired Fordia, a manufacturer of exploration drilling tools. The company provides exploration drilling tools such as diamond bits, down-the-hole tools, drill rods and drill casings, as well as water treatment systems and pumps, used by mining houses and drilling contractors.
Fordia Group is based in Montreal, Canada, and has sales in more than 70 countries. It has about 250 employees and had revenues for the 12 months ended September 2018 of about CAD 85 million (USD 62.5M).
A spokesperson said, “Epiroc announced on 23 October 2018 that it had agreed to acquire Fordia. The purchase price is not material relative to Epiroc’s market capitalization and is not disclosed. The business becomes part of Epiroc’s Rock Drilling Tools division, and will continue to be based in Montreal.”
