Epiroc says it is further strengthening the focus on its tools and attachments business through the splitting of its Tools & Attachments division and appointment of new division presidents.
In recent years, the Tools & Attachments division has expanded significantly through organic and inorganic growth, and will become significantly larger after the completion of the acquisition of STANLEY Infrastructure, Epiroc says. To sustain optimal focus on each business line and continue fostering profitable growth, Epiroc will, from May 1, 2024, split the Tools & Attachments division into these two new divisions: the Rock Drilling Tools (Tools) division and the Mining & Infrastructure Attachments (Attachments) division.
Martin Hjerpe, currently SVP M&A, Strategy and Supply Chain, will become President of the Tools division. Goran Popovski, currently President of the Tools & Attachments division, will become President of the Attachments division.
“With past growth and now the ongoing acquisition of STANLEY Infrastructure – our largest acquisition ever – our tools and attachments business is expanding significantly,” Helena Hedblom, Epiroc’s President and CEO, says. “By dividing up the business into two dedicated divisions, we are optimising the focus for all the business lines and supporting sustainable, profitable growth.”
The Tools division will cover:
- Tophammer and Handheld;
- DTH, Rotary and Raiseboring;
- Ground Support; and
- Supply Chain.
The Attachments division will cover:
- Ground Engaging Tools (CR);
- Hydraulic Attachment Tools; and
- STANLEY Infrastructure
After the change on May 1, Epiroc will have the following external reporting segments and divisions (the external reporting segments remain unchanged):
- The Equipment & Service segment with the divisions Underground, Surface, Parts & Services North and South America (NASA), Parts & Services Europe, Middle East and Africa (EMEA), Parts & Services Asia Pacific (APAC), and Digital Solutions. (Unchanged); and
- The Tools & Attachments segment with the divisions Tools and Attachments.
Epiroc announced on December 15, 2023, that it had agreed to acquire STANLEY Infrastructure from Stanley Black & Decker, Inc. The acquisition is expected to be completed around the end of this month.
