Epiroc to acquire Meglab
By Leila Steed06 April 2021
Swedish equipment manufacturer Epiroc has announced its acquisition of electrification technology company Meglab, in a deal for an undisclosed amount.
Meglab, which is based in Quebec, Canada, designs, manufactures and installs electrification and telecommunication products for mining and infrastructure companies.
The deal will help Epiroc to develop battery-electric versions of its entire mining equipment range by 2030.
Helena Hedblom, Epiroc’s President and CEO, said, “Epiroc is proud to be the leader in providing battery-electric vehicles for the mining industry, improving customers’ work environment and lowering their emissions while increasing their productivity.
“The acquisition of Meglab will strengthen our capacity to provide the infrastructure required as mines transition to battery-electric vehicles.”
According to Epiroc, the acquisition will be completed in the second quarter of this year and will result in Meglab becoming part of its Parts & Services division.
Meglab, which employs a staff of more 240 people, operates in 15 countries around the world and last year reported revenues of CAD$49 million (US$38 million).
Its product ranges include the Yellowcube electrical substation for use in mines and the Microguide Pro Surface system, which allows users to operate vehicles by remote control.