Epiroc is set to acquire Yieldpoint Inc., a Canadian advanced ground support solutions company.
Based in Kingston, Ontario, Canada, Yieldpoint designs, manufactures and sells advanced digital geotechnical instruments to customers worldwide.
The products, including ground movement sensors and telemetry solutions, are primarily used for underground mining, tunnelling, and civil construction applications. Yieldpoint’s solutions help digitalise the ground support and create a safer working environment.
“Proper ground support is crucial to safe mining and infrastructure operations,” Epiroc president and chief executive officer Helena Hedblom said. “Yieldpoint’s smart and robust monitoring solutions complement our ground support offering well, and expand our portfolio of digital solutions.
“Together we will offer high-tech ground support solutions that allow customers to operate in a safer environment and spend more time focusing on their operations. We look forward to welcoming the experienced and professional Yieldpoint team to Epiroc.”
The acquisition is expected to be completed towards the end of the second quarter of 2024.
The acquisition follows Epiroc’s newest electrification milestone, announced in April. Boliden AB, Epiroc and ABB deployed the first fully operational battery-electric trolley truck system in Sweden last month, with a 13 per cent incline.
Epiroc recently added dynamic charging to its Minetruck MT42 SG and battery system, and the trolley system is equipped with ABB’s DC converter, HES880 inverter and AMXE motors to enhance the power.
“Together, in close partnerships we can accelerate the transformation and reach a steep curve in mining technology innovation,” Epiroc president underground division Wayne Symes said.
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