Epiroc, the Sweden-headquartered global market manufacturer of drill rigs and hydraulic breakers for the quarrying and mining industries, is further strengthening its focus on its tools and attachments business. The company will split the Tools & Attachments division into two and appoint a new division president.
In recent years, the Tools & Attachments division has expanded significantly through organic and inorganic growth and will become significantly larger after the acquisition of STANLEY Infrastructure. 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 senior vice president of 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 theAttachments division.
“With past growth and now the ongoing acquisition of STANLEY Infrastructure – our largest acquisition ever – our tools and attachments business is expanding significantly,” says Helena Hedblom, Epiroc’s president and CEO. “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 two divisions will cover the following areas:
The Tools division
Tophammer and Handheld
DTH, Rotary and Raiseboring
Ground Support
Supply Chain
The Attachments division
Ground Engaging Tools (CR)
Hydraulic Attachment Tools
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).
· The Tools & Attachments segment with the divisions Tools and Attachments.
Epiroc’s Group Management will remain unchanged as both Martin Hjerpe and Goran Popovski already are members of Group Management.
After Martin Hjerpe takes up his new role as division president, the position as senior vice president M&A, Strategy and Supply Chain will be dissolved. The M&A and Strategy function will report to the Chief Financial Officer. Supply Chain will be part of the Tools division.
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 the first quarter of 2024.
