To strengthen the focus on its tools and attachments business, Epiroc is creating two separate divisions as well as appointing a new division president.
Epiroc’s tools and attachments division has expanded significantly in recent years and will become significantly larger after the completion of the acquisition of Stanley Infrastructure.
To maintain focus on each business line, Epiroc will split tools and attachments into two new divisions: the Rock Drilling Tools division and the Mining & Infrastructure Attachments division.
“With past growth and now the ongoing acquisition of Stanley Infrastructure – our largest acquisition ever – our tools and attachments business is expanding significantly,” said Helena Hedblom, Epiroc’s President and CEO.
“By dividing up the business into two dedicated divisions, we are optimizing the focus for all the business lines and supporting sustainable, profitable growth.”
Martin Hjerpe, currently Senior Vice President 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.
The two Epiroc divisions will cover the following areas:
Tools division
- Tophammer and Handheld
- DTH, Rotary and Raiseboring
- Ground Support
- Supply Chain
Attachments division
- Ground Engaging Tools (CR)
- Hydraulic Attachment Tools
- Stanley Infrastructure
After Martin Hjerpe assumes 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, it had agreed to acquire Stanley Infrastructure from Stanley Black & Decker, which includes the LaBounty, Paladin, Pengo and Dubuis brands. It designs, manufactures, and sells attachments, typically used on excavators, and handheld hydraulic and battery-powered tools for applications in infrastructure, construction, scrap recycling, demolition, and railroad infrastructure.
The acquisition is expected to be completed around the end of the first quarter 2024.
