Based near Johannesburg, Weco has more than 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 90mn). Weco’s customers are mainly underground mining companies in the Southern African region.
Epiroc announced on December 12, 2023, that it had agreed to acquire Weco.
The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
Speaking following the acquisition announcement, Helena Hedblom, Epiroc's president and CEO, said: "This acquisition will strengthen our manufacturing capabilities and expand our product portfolio of spare parts in the growing and important African region. We look forward to welcoming the strong team at Weco to the Epiroc Group."
