CR is delighted to announce that American Industrial Partners (AIP) have signed a binding agreement to sell CR to Epiroc, subject to final regulatory approvals.
With this acquisition, Epiroc is expanding upon its market leading range of essential consumables, products, and digital solutions.
“This is a significant milestone event for everyone in the CR business and provides tremendous recognition of the value created by our collective efforts and performance over the recent years. I feel immensely proud of what we have achieved together to become an innovative technology supplier to the global mining industry,” says CR CEO John Barbagallo.
“I strongly believe this future outcome can enable the CR business, our employees, and operating partners the opportunity to develop even further, powered with greater market reach, innovative spirit, and the financial strength of Epiroc. I look forward to working with our customers, suppliers, channel partners, stakeholders, and our new owners Epiroc to create an even better CR business for the future.”
“This acquisition will expand our offering of innovative and high-quality consumables and digital solutions that strengthen customers’ productivity and safety,” says Helena Hedblom, Epiroc’s President and CEO. “We look forward to welcome the strong team at CR to Epiroc.”
The acquisition is expected to be completed in the first half of 2023.
Epiroc is a vital part of a sustainable society and a global productivity partner for mining and infrastructure customers. With ground-breaking technology, Epiroc develops and provides innovative and safe equipment, such as drill rigs, rock excavation and construction equipment and tools for surface and underground applications. The company also offers world-class service and other aftermarket support as well as solutions for automation, digitalization and electrification. Epiroc is based in Stockholm, Sweden, had revenues of SEK 40 billion in 2021, and has more than 15 500 passionate employees supporting and collaborating with customers in more than 150 countries.
CR engineers advanced mining products and digital solutions for surface and underground mining equipment, fixed plant, and wear parts. Its advanced physical and digital solutions help the world’s miners unlock productivity, enhance safety, and reduce maintenance requirements. CR’s leading range of mining equipment and technology includes lips, GET, dragline buckets and rigging, conveyor systems, fixed plant wear products, block and wear, and digital solutions – from payload management to GET loss detection. Backed by an uncompromising design process, data-based testing protocol, and passionate engineers with decades of experience, they are the next generation of mining technology that enable customers to link actionable data with operational decisions that deliver on ESG and performance ambitions. CR operates globally, with headquarters in Australia, and a worldwide network of distributors and suppliers partners covering all major mining regions.
Ola Kinnander, Media Relations Manager
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Hannah Sabih, Global Marketing Manager
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