Epiroc has completed the acquisition of the business and assets of FVT Research Inc., a Canadian company with expertise in converting diesel-powered mining machines to battery-electric vehicles.
FVT Research, based in Vancouver, Canada, designs diesel-to-battery conversion kits and rebuilds mining machines to electric versions. The company has also recently been part of a successful project to convert the diesel-powered Epiroc Scooptram ST1030 loader to battery electric. FVT Research has about 25 employees and had revenues in 2020 of MCAD 4 (MSEK 27).
Epiroc announced on September 13, 2021, that it had agreed to acquire FVT Research.
The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.