Press release from Epiroc AB June 2, 2023

Epiroc completes purchase of key assets in Australian mining equipment manufacturer Stockholm, Sweden: Epiroc, a leading productivity and sustainability partner for the mining and infrastructure industries, has completed the purchase of the key assets of Schramm Australia, a leading manufacturer of products for reverse circulation (RC) drilling.

Since February 2023, Schramm Australia, based in Perth, has been in voluntary administration, and Epiroc will now continue the business to the benefit of the customers. The assets include intellectual property as well as two production facilities near Perth and two service centers located in Queensland and South Australia. Schramm Australia’s employees will be offered employment at Epiroc.

Epiroc announced on May 17, 2023, that it had agreed to purchase the assets.

The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.