Weco is based near Johannesburg, South Africa. The company, which has over four decades of industry experience, has about 80 employees and had revenues in the fiscal year ending May 31, 2023, of about ZAR 160 million (SEK 90 million). Weco’s customers are mainly underground mining companies in the Southern African region.
“This acquisition will strengthen our manufacturing capabilities and expand our product portfolio of spare parts in the growing and important African region,” says Helena Hedblom, Epiroc’s President and CEO. “We look forward to welcoming the strong team at Weco to the Epiroc Group.”
The acquisition is subject to customary regulatory filings and is expected to be completed in the second quarter of 2024. The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
