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Epiroc

Epiroc AB is a Swedish multinational engineering company headquartered in Stockholm, specializing in the development, manufacture, and sale of equipment, tools, and services for rock excavation, drilling, and construction primarily serving the mining, infrastructure, and natural resources industries.^[1] Founded in 1873 as part of Atlas Copco and spun off as an independent entity in 2018, Epiroc operates in approximately 150 countries with around 19,000 employees as of 2025, focusing on innovative solutions that enhance productivity and sustainability, including electrification and automation technologies.^[2]^[1]^[3] The company's product portfolio includes surface and underground drill rigs, loaders and trucks, rock drilling tools, raiseboring equipment, and excavator attachments, designed for applications in mining, tunneling, and civil engineering projects.^[4] In addition to hardware, Epiroc provides comprehensive services such as parts supply, remanufacturing, custom engineering solutions, training, and digital support to optimize equipment performance and reduce environmental impact.^[5] With annual revenues of 63,604 million Swedish kronor and an operating margin of 19.5% in 2024, Epiroc emphasizes research and development to drive advancements in safe, efficient, and eco-friendly operations.^[1] Historically, Epiroc's roots trace back to the founding of AB Atlas in 1873, which initially produced railway equipment before expanding into rock drilling tools in the early 20th century, such as the first pneumatic rock drills in 1905.^[2] Key innovations include the introduction of the "one man – one machine" drilling method in 1936, the Boomer face drilling rig in the 1970s, and the acquisition of Secoroc in 1988, which solidified its position as a global leader in rock drilling equipment.^[2] Following its 2018 demerger from Atlas Copco and listing on Nasdaq Stockholm, Epiroc has accelerated efforts toward sustainable practices, including science-based climate targets validated in 2021 and a focus on battery-electric equipment to support the transition to low-carbon mining and construction.^[2]

Overview

Founding and Corporate Identity

Epiroc AB originated as a spin-off from the Swedish industrial group Atlas Copco, a strategic decision announced in January 2017 to separate the company's mining and rock excavation business from its compressor and industrial tools operations. This division allowed Epiroc to concentrate exclusively on equipment, services, and solutions for mining, infrastructure, and natural resources, while Atlas Copco refocused on broader industrial applications such as compressors, generators, and assembly systems. The spin-off was completed through a 1:1 distribution of Epiroc shares to Atlas Copco shareholders, with Epiroc's shares beginning independent trading on Nasdaq Stockholm on June 18, 2018.^[6]^[7]^[8] Although Epiroc's corporate identity was formally established in 2018, its roots trace back to 1873, when AB Atlas was founded in Stockholm, Sweden—the same precursor that evolved into Atlas Copco. Headquartered in Nacka, Stockholm, Sweden, Epiroc operates as a standalone public company listed under the ticker EPI A on Nasdaq Stockholm. With nearly 19,000 employees as of December 2024 serving customers in approximately 150 countries, the company embodies a distinct identity centered on specialized productivity solutions for demanding environments.^[1]^[8]^[9] Epiroc's core mission is to serve as a global productivity partner, delivering innovative, safe, and sustainable equipment, services, and solutions that enhance efficiency in mining and infrastructure sectors while accelerating the transition to a sustainable society. This focus underscores the company's commitment to customer collaboration, technological innovation, and environmental responsibility. An early post-spin-off milestone came in 2020, when Helena Hedblom was appointed President and CEO, effective March 1, bringing extensive internal experience to lead Epiroc's growth in these specialized markets.^[1]^[10]

Global Operations and Financials

Epiroc maintains a extensive global presence, conducting operations in approximately 150 countries and employing around 19,000 people worldwide as of December 2024.^[1]^[9] The company's major production and distribution hubs include Örebro, Sweden, its largest site with nearly 3,000 employees focused on manufacturing, research and development, and logistics.^[11] Additionally, Epiroc operates key R&D centers, such as the one established in Nanjing, China, in 2011, which tailors engineering solutions to regional market demands like those in Asia.^[2] This international footprint enables Epiroc to serve diverse customers efficiently through a decentralized organizational structure, where eight divisions hold global responsibility while adapting to local needs for customized support and rapid response.^[12] Financially, Epiroc demonstrated resilience in 2024 with annual revenues of SEK 63.6 billion, driven by strong demand in core sectors.^[9] For the trailing twelve months ending September 2025, revenues stood at approximately SEK 63.2 billion, reflecting a 3% decline in the third quarter due to currency headwinds, though organic growth was positive at 5%.^[13] The company's shares are listed on Nasdaq Stockholm under the ticker EPI B, providing investors access to its performance in the productivity solutions market.^[14] Epiroc's financial strategy emphasizes sustainable growth, with an adjusted operating margin of around 20% in recent periods, underscoring its efficiency in a volatile economic environment.^[15] Epiroc's market positioning centers on high-demand segments including mining for both surface and underground applications, infrastructure development, construction, demolition and recycling, as well as water management and oil and gas exploration.^[16] This diversified focus allows the company to leverage strengths in equipment and services across cyclical industries, with mining accounting for a significant portion of revenues amid stable global demand.^[12] The decentralized model further enhances its ability to address localized challenges in these segments, fostering innovation and customer proximity without compromising global scale.^[17]

History

Origins and Early Development (1873–1950s)

The origins of Epiroc trace back to 1873, when AB Atlas was founded in Stockholm, Sweden, as a manufacturer of equipment for building and maintaining railways.^[2] Initially focused on railway materials and tools, the company quickly gained royal endorsement, with King Oscar II expressing support for its contributions to Swedish infrastructure in 1874.^[2] This foundational venture laid the groundwork for future expansions into industrial machinery, emphasizing practical engineering solutions for transportation and construction needs. By the early 20th century, AB Atlas began diversifying into diesel engines and rock excavation tools. In 1898, AB Diesels Motorer was established in Sickla, Sweden, specializing in improved diesel engines for marine applications.^[2] The company's entry into rock drilling came in 1905 with the production of its first pneumatic rock drills, the Cyklop and Rex models, which significantly boosted drilling efficiency in mining and construction.^[2] International growth followed, with expansions into Russia, England, and Norway by 1915, marking AB Atlas's shift toward a global presence in industrial equipment.^[2] In 1917, AB Diesels Motorer merged with AB Atlas to form AB Atlas Diesel, consolidating expertise in engines and machinery under one entity.^[2] The interwar and post-World War II periods saw further consolidation and innovation. In 1925, the headquarters relocated to Sickla, Sweden, where production facilities were equipped with direct rail connections to enhance logistics.^[2] A pivotal advancement occurred in 1936 with the introduction of the Swedish Method, a drilling technique that paired pusher legs with hard metal drill bits to enable "one man – one machine" operations, revolutionizing productivity in underground mining.^[2] Postwar acquisitions strengthened the company's portfolio: in 1951, AB Växlar & Signaler (AVOS) in Örebro, Sweden, was acquired to bolster signaling and control systems; and in 1956, Arpic Engineering NV in Belgium was purchased, leading to the company's rename as Atlas Copco.^[2] Concurrently, in 1953, Dr. Peter Wallenberg joined the board, initiating a 62-year tenure that instilled a decentralized, customer-focused organizational culture.^[2] These developments positioned the company for sustained growth in rock excavation technologies into the latter half of the 20th century.

Growth Through Innovation and Acquisitions (1960s–2017)

During the 1960s, Atlas Copco's rock excavation division, which later became Epiroc, pioneered advancements in hydraulic technology that transformed construction and mining operations. In 1962, the company introduced a rig-mounted hydraulic breaker that was instrumental in excavating the 11.6 km Mont Blanc Tunnel, the world's longest at the time, significantly reducing travel distance between Paris and Rome by 150 km.^[2] This innovation marked a shift from manual and pneumatic tools to more efficient hydraulic systems. The following year, in 1963, Atlas Copco secured a patent for the hydraulic breaker, revolutionizing excavator attachments by enabling powerful, controlled rock breaking directly from mobile rigs.^[18] The 1970s saw further innovation in drilling equipment tailored for underground applications. Atlas Copco launched the Boomer face drilling rig, a robust hydraulic system designed for tunneling and mining, which improved precision and safety in confined spaces and remains in production today with options for diesel or battery power.^[2] This period also highlighted the company's growing global footprint and internal milestones. In 1973, to commemorate its centennial, Atlas Copco hosted a royal exhibition at its Sickla facility in Sweden, showcasing over a century of engineering progress in rock drilling and excavation.^[2] By the 1980s, Atlas Copco's equipment was contributing to unique scientific endeavors while expanding through strategic buys. In 1984, the company's drilling tools supported a decade-long excavation at Dinosaur Cove in Victoria, Australia, facilitating the discovery of the dinosaur species Atlascopcosaurus loadsi, named in honor of Atlas Copco and its local manager, William Loads, for providing essential support to the paleontological project.^[19] This underscored the versatility of its rock drilling technology beyond industrial uses. In 1988, the acquisition of Secoroc, a leading Swedish rock drilling tools manufacturer based in Fagersta, positioned Atlas Copco as the world's largest supplier of complete rock drilling systems, enhancing its product portfolio with advanced consumables and accessories.^[2] The 1990s emphasized organizational evolution alongside technical growth. In 1991, Marianne Hamilton joined Atlas Copco's Group Management as the first woman in that role, where she drove initiatives in job mobility and decentralization, fostering a dynamic internal talent market and promoting diverse leadership within the organization.^[2] Entering the 21st century, acquisitions bolstered Atlas Copco's dominance in surface drilling. In 2004, the company acquired Ingersoll-Rand Drilling Solutions, a U.S.-based manufacturer and distributor of drilling equipment, for $225 million, which strengthened its position in surface mining and construction applications by integrating complementary technologies and market share.^[20] Building on this, in 2005, Atlas Copco launched an almost silent surface drill rig, optimized for continuous operation in urban environments and densely populated areas, addressing noise regulations while maintaining high productivity.^[2] Global expansion continued with investments in research and development. In 2011, Atlas Copco established an R&D center in Nanjing, China, to better serve Asian markets by accelerating product development tailored to local needs and shortening time-to-market for innovations in rock excavation.^[2] By 2017, the rock excavation business had matured into a distinct entity, prompting structural changes at the parent company. That year, Atlas Copco announced a proposal to split the group, distributing shares of the mining and rock excavation division—named Epiroc—to shareholders on a 1:1 basis, setting the stage for its independence in 2018 and allowing focused growth in specialized sectors.^[8]

Spin-off and Modern Era (2018–Present)

In 2018, Epiroc completed its spin-off from Atlas Copco, becoming a fully independent company focused on mining and rock excavation equipment. The separation was announced in January 2017, with Epiroc's shares distributed to Atlas Copco shareholders and officially listed on Nasdaq Stockholm on June 18, 2018, marking the start of its operations as a standalone entity.^[21]^[22] This transition allowed Epiroc to concentrate exclusively on its core sectors, distinct from Atlas Copco's industrial tools and compressor businesses, enabling targeted growth in productivity solutions for mining and infrastructure customers.^[7] Leadership transitioned in 2020 with the appointment of Helena Hedblom as President and CEO, effective March 1, following her role as Senior Executive Vice President of the Mining and Rock Excavation division. Hedblom's tenure has emphasized sustainable transformation, including advancements in electrification, digitalization, and automation to support the industry's shift toward lower emissions and higher efficiency.^[10]^[23] In 2021, Epiroc's climate targets received validation from the Science Based Targets initiative (SBTi), aligning the company's goals to reduce Scope 1 and 2 emissions by 50% by 2030 and Scope 3 emissions by 30% by the same year with a 1.5°C pathway for global warming.^[24] By 2023, Epiroc accelerated its sustainable initiatives in mining and construction, launching programs for autonomous drilling milestones and fossil-free technologies to enhance resource extraction efficiency and reduce environmental impact.^[25] In 2025, Epiroc announced a significant organizational restructure on August 6, consolidating its eight divisions into two Business Areas—Equipment & Service and Tools & Attachments—effective September 1, to streamline operations and foster greater focus on customer needs. This shift positions the divisions under respective Business Area Presidents, enhancing agility in a rapidly evolving market.^[26] Later that year, in October, Epiroc expanded its battery-electric equipment offerings through a partnership with Jama Mining Machines, enabling distribution of battery-powered scalers and rescue chambers to support zero-emission underground operations. Hedblom discussed the company's industrial legacy in an October 17 interview, highlighting Epiroc's evolution from its Atlas Copco roots into a leader in sustainable mining technologies while preserving its heritage of innovation.^[27]^[28] On October 27, Hedblom was awarded the Gold Medal 2025 by the Royal Swedish Academy of Engineering Sciences for her contributions to the mining industry. In November, Epiroc launched the next-generation polycrystalline diamond (PCD) drill bits on November 14, designed for exceptional wear resistance and precision in mining operations; introduced the Scooptram ST4, a 4-tonne underground loader for narrow vein mining, on November 4; and formed a partnership with Cal-Nevada Precision Blasting on November 7 to provide surface drilling equipment. Additionally, in November 2025, Epiroc received two prestigious awards from Mining Magazine for its innovations.^[29]^[30]^[31]^[32]

Corporate Governance

Leadership and Management

Helena Hedblom has served as President and Chief Executive Officer (CEO) of Epiroc since March 1, 2020.^[33] With a background in materials engineering, holding an M.Sc. from the Royal Institute of Technology (KTH) in Sweden, Hedblom began her career at Atlas Copco (Epiroc's predecessor) in 2000 as Manager of Materials Development in Research & Development for Rock Drilling Tools.^[23] She transitioned into sales roles after several years in product development, eventually rising to Senior Executive Vice President of Mining and Infrastructure before her CEO appointment.^[34] Under her leadership, Epiroc has prioritized sustainability initiatives, such as advancing battery-electric vehicles and green transformation in mining, alongside digitalization efforts like automation and data-driven solutions to enhance productivity.^[35]^[36] In 2025, Epiroc implemented significant changes to its Group Management structure, effective September 1, to streamline operations and foster growth.^[37] The team was reduced from 13 to six positions, introducing two Business Areas: Equipment & Service, led by President Jess Kindler, and Tools & Attachments, led by President José Manuel Sánchez.^[37] Kindler, with over 20 years at Epiroc and degrees in mining engineering and an MBA, focuses on driving revenue growth and operational excellence from the U.S.^[37] This restructure, part of broader organizational evolution since the 2018 spin-off, shifts division presidents to report to Business Area leaders rather than directly to the CEO, aiming for 8% annual revenue growth and enhanced market profitability.^[37] Epiroc's governance is overseen by its Board of Directors, which holds ultimate responsibility for the company's organization, administration, and long-term strategy, ensuring alignment with shareholder interests through internal controls and ethical practices.^[38] The Board, chaired by Ronnie Leten since 2017, includes independent members like Johan Forssell and Jeane Hull, providing oversight on key decisions while the CEO reports directly to it.^[39]^[40]^[41] This structure upholds a decentralized management philosophy inherited from the Wallenberg family's influence during the Atlas Copco era, emphasizing local autonomy, employee responsibility, and innovation at operational levels to support global agility.^[17]^[42] Epiroc's leadership principles are innovation-driven, encouraging engineers and teams to pursue breakthroughs while maintaining accountability for results, a core tenet that has propelled technological advancements in mining and infrastructure.^[17] Diversity has been a longstanding priority, marked by milestones such as the appointment of Marianne Hamilton as the first woman in Group Management in 1991, who advanced internal mobility and decentralized hiring practices.^[2] This emphasis continues today, with initiatives like active diversity networks and Hedblom's advocacy for gender balance in leadership, contributing to a more inclusive decision-making culture across the organization.^[43]

Organizational Structure and Divisions

Epiroc operates under a decentralized organizational model, where individual divisions hold global responsibility for their operations, enabling agile decision-making and customer-focused innovation. This structure evolved from its origins as the Mining and Rock Excavation Technique business area within Atlas Copco Group, where it was fully integrated until the 2018 spin-off that established Epiroc as an independent entity listed on Nasdaq Stockholm. Post-spin-off, Epiroc maintained and refined this decentralized approach to support its standalone growth in mining and infrastructure sectors.^[7]^[12] In August 2025, Epiroc announced a significant evolution in its structure, implementing two Business Areas effective September 1, 2025, to enhance focus and operational efficiency. The Equipment & Service Business Area, led by President Jess Kindler, encompasses divisions responsible for drill rigs, loaders, and ventilation systems, emphasizing equipment delivery and aftermarket support. The Tools & Attachments Business Area, under President José Manuel Sánchez, includes divisions focused on rock tools and hydraulic attachments, targeting specialized consumables and enhancements for excavation processes. This grouping aims to streamline strategic oversight while preserving divisional autonomy.^[37] Epiroc's eight divisions form the core of this model, each managing product development, manufacturing, sales, and service on a global scale. The Rocktec division specializes in advanced rock drilling technologies and support systems. Underground Rock Excavation handles equipment for tunneling and mining in subterranean environments. Surface Rock Excavation focuses on open-pit and quarrying operations. Underground Rock Loading manages material handling solutions for below-ground applications. Surface Rock Loading addresses above-ground loading and transport needs. Exploration Drilling Tools provides tools for geoscientific and resource discovery activities. Rock Drilling Tools offers consumables and accessories for drilling efficiency. Attachments develops hydraulic breakers and demolition tools for versatile use. These divisions collectively drive Epiroc's productivity solutions across its markets.^[12]^[37] Under the new structure, division presidents report directly to their respective Business Area presidents rather than the CEO, fostering specialized leadership and quicker response to market demands. This reporting line reduces layers in Group Management from 13 to 6 members, promoting efficiency without centralizing control. The shift builds on Epiroc's post-2018 independence, allowing greater alignment between business units and long-term goals like sustainable growth.^[37]

Products and Services

Rock Drilling and Excavation Equipment

Epiroc's rock drilling equipment encompasses a range of advanced drill rigs designed for both surface and underground operations, enabling precise mineral extraction and infrastructure development. These rigs are engineered for high productivity in challenging environments, integrating robust hydraulic systems and intelligent controls to optimize drilling accuracy and efficiency.^[44] Surface drill rigs, such as the SmartROC T25 R, are tophammer models tailored for quarrying, construction, and open-pit mining applications. The SmartROC T25 R features a compact design with exceptional terrainability, allowing operation on slopes up to 30 degrees, and includes a 10-inch touchscreen for intuitive control of drilling parameters. Its automation capabilities, including semi-automated hole navigation, enhance operator safety by reducing exposure to hazardous areas while minimizing fuel consumption through optimized engine performance.^[45]^[46] Underground drill rigs, exemplified by the Boomer series, support face drilling in mining and tunneling projects. Models like the Boomer E3 and Boomer M series are hydraulic rigs suitable for drifts and tunnels up to 198 m² in cross-section, equipped with powerful rock drills such as the COP 1838 for high penetration rates in hard rock. These rigs incorporate remote operation features and collision avoidance systems, improving safety in confined spaces by enabling operators to work from protected cabins or external stations. The Boomer series has a legacy in major projects, including contributions to the Mont Blanc Tunnel construction in the 1950s and 1960s through predecessor technologies.^[47]^[48]^[49] Rock excavation equipment from Epiroc includes loaders, haulers, ventilation systems, and materials handling solutions, primarily for underground mining and civil construction. Loaders such as the Scooptram ST3.5 and ST7LP are diesel-powered load-haul-dump (LHD) machines with capacities of 3.5 to 7 metric tonnes, designed for low-seam and medium operations with articulated steering for maneuverability in narrow tunnels. Haulers, including underground trucks with payloads from 20 to 65 tonnes, facilitate efficient ore transport, featuring Ejector or Tailgate body options for reliable dumping in steep inclines.^[50]^[51]^[52] Ventilation systems, like the Serpent series, provide targeted airflow control in underground environments, using high-pressure axial fans to deliver fresh air through flexible ducts while minimizing energy use via on-demand activation. Materials handling integrates with loaders and haulers through automated orchestration, such as the Deep Automation suite, which coordinates vehicle movements to streamline ore flow from extraction to processing points, reducing cycle times in optimized setups.^[53]^[54]^[55] These equipment lines serve critical applications in mineral extraction, where drill rigs and loaders enable selective mining in ore bodies, and in tunneling for projects like metro systems or highways, ensuring stable rock support and material removal. Key features across the portfolio emphasize automation integration, such as Rig Control System (RCS) for real-time monitoring, and safety enhancements like automatic fire suppression and ergonomic cabs, aligning with industry standards for reduced downtime and operator protection.^[56]^[57]

Tools, Attachments, and Accessories

Epiroc offers a comprehensive range of rock drilling tools designed to enhance drilling efficiency in mining and construction applications, including bits, rods, and shanks engineered for optimal penetration and durability.^[58] The Secoroc line, stemming from the 1988 acquisition of Secoroc by Atlas Copco (Epiroc's predecessor), provides specialized consumables such as threaded and DTH (down-the-hole) bits, extension rods, and shank adapters, which integrate seamlessly with drill rigs to achieve high hole quality and low production costs.^[2] These tools prioritize productivity through features like advanced carbide inserts and heat-treated steels, enabling longer service life in demanding rock formations.^[58] In the attachments category, Epiroc supplies hydraulic breakers, drum cutters, and hydraulic compactors for excavators, supporting demolition, renovation, and recycling tasks.^[59] The hydraulic breaker, first patented in 1963, utilizes gas/oil technology and auto-control systems to deliver precise impact energy for breaking concrete and rock without excessive vibration.^[59] Drum cutters enable low-vibration milling for trenching and selective excavation, while compactors facilitate soil densification in earthmoving operations.^[59] Ground engaging tools, such as the SaberEdge™ system, feature integrated wear protection for buckets and blades, reducing downtime in material handling.^[60] Handheld hydraulic tools, including demolition hammers and cutters, provide portable solutions for confined spaces in construction and infrastructure projects.^[61] Accessories from Epiroc encompass replacement parts and maintenance kits tailored for demolition, recycling, and resource extraction in water, oil, and gas sectors.^[62] These include wear parts like chisels and seals for breakers, as well as consumable kits for quick repairs, ensuring compliance with safety standards and minimizing equipment downtime.^[62] For specialized applications, accessories support waterwell drilling and oil/gas exploration with corrosion-resistant components. Epiroc's exploration drilling tools, enhanced by the 2019 acquisition of Fordia, feature high-performance diamond-impregnated bits and coring systems for mineral prospecting and geotechnical investigations.^[63] These tools integrate with surface and underground equipment to improve sample recovery rates and borehole stability, boosting overall productivity in resource discovery.^[63]

Service Offerings and Digital Solutions

Epiroc provides a comprehensive range of professional services designed to support customers in the mining and infrastructure sectors throughout the equipment lifecycle. These include spare parts supply, where the company maintains a global network for delivering replacement parts and kits to ensure minimal downtime. Maintenance services encompass service agreements, audits, and remanufacturing solutions, including mid-life upgrades such as diesel-to-electric conversions, to extend equipment longevity and optimize performance. Training programs, offered through simulators and general courses, prepare operators for safe and efficient use of machinery, enhancing productivity while reducing accidents and damage. Engineering consulting is delivered via application expertise services, where specialists optimize mining and tunneling processes to lower costs and improve outcomes. In the realm of digital solutions, Epiroc emphasizes tools that enable real-time monitoring and automation to boost operational efficiency. The Epiroc InSite platform, launched in October 2025, offers advanced asset tracking and real-time data insights for fleet visibility and control, including predictive maintenance features to minimize downtime across mixed fleets. Automation software, such as the 6th Sense suite, connects machines, systems, and personnel to streamline processes in underground mining, supporting autonomous operations and data-driven decision-making. Additional offerings like Productivity Analytics provide insights into machine utilization, cycle times, and fleet health, integrating planning and progress data for underground mines and tunnel sites. Epiroc's support models prioritize availability and reliability, with 24/7 self-service video resources aiding operators and technicians in troubleshooting and routine maintenance to maximize uptime. Round-the-clock rock tools support is facilitated through local workshops equipped with precision tools and measurement instruments for rock drill servicing. The Total Tunneling package, introduced at Bauma 2025, bundles automation-enabled services for underground civil construction, optimizing safety, productivity, and quality via seamless integration of drilling, grouting, and management systems. These services add value through productivity consulting and customized solutions tailored to specific mining and infrastructure needs, such as fleet optimization and operational audits, helping customers achieve higher efficiency and sustainability goals.

Sustainability and Innovation

Environmental and Sustainability Initiatives

Epiroc established science-based climate targets in 2021, validated by the Science Based Targets initiative (SBTi) as aligned with limiting global warming to 1.5°C under the Paris Agreement. These targets include halving absolute CO₂ emissions from its own operations (Scope 1 and 2) by 2030 relative to a 2019 baseline, and reducing absolute CO₂ emissions from the use of sold products (Scope 3, comprising about 83% of total emissions) by 50% by 2030. Additional commitments encompass halving CO₂ emissions from transport by 2030, achieving 90% renewable energy usage in operations by 2030, and offering a full range of emissions-free products.^[24] In 2023, Epiroc emphasized accelerating the transformation toward sustainable mining through increased investments in research and development focused on electrification, automation, and digitalization, as highlighted in its Annual and Sustainability Report. The company strengthened partnerships, such as with SSAB for fossil-free steel and ispace for lunar equipment, to support eco-friendly innovation and productivity. These efforts align with broader goals of enhancing safety, reducing environmental impact, and driving industry-wide decarbonization.^[64] In 2025, Epiroc was awarded a Gold Medal by EcoVadis, placing it in the global top 5% of over 150,000 assessed companies for performance in environment, labor and human rights, ethics, and sustainable procurement. Additionally, in August 2025, Epiroc partnered with Hindustan Zinc to deploy its OEM-agnostic Collision Avoidance System across five underground mines in Rajasthan, India, starting with a pilot at Sindesar Khurd Mine involving 30 vehicles and 100 pedestrians to enhance safety.^[65]^[66] Epiroc advanced its circular economy initiatives in June 2025 with the launch of comprehensive circular solutions, emphasizing equipment remanufacturing and parts recycling to maximize asset value while minimizing waste and emissions. Remanufacturing extends equipment lifespan by incorporating updated technology, reduces total cost of ownership, and reuses up to 90% of steel, making components up to 70% cheaper than new ones. Parts recycling further cuts CO₂ emissions and supports sustainable procurement, backed by a global network of over 4,000 technicians and 75 workshops.^[67] The company expanded its zero-emission mining equipment portfolio in October 2025 through a partnership with Jama Mining Machines AB, enabling global distribution (excluding select Nordic regions and the UK/Ireland) of battery-electric scalers like the SBU 8000 E—the world's first such model launched in 2020 using Epiroc's battery technology—and mobile rescue chambers. This builds on Epiroc's legacy of environmental consideration, including the 2005 introduction of an almost silent surface drill rig designed for continuous operation in densely populated urban areas, a feature continued in modern noise-reduced tools to lessen community impact.^[27]^[2]

Key Technological Advancements and R&D

Epiroc's technological advancements trace back to pivotal innovations in rock excavation tools, beginning with the hydraulic breaker patented in 1963 by Krupp Berco Bautechnik, which revolutionized attachment tools for excavators by enabling the first hydraulically driven percussion mechanism for breaking rock.^[68] The first serial production model, the HM 400, debuted in 1967 and set the foundation for Epiroc's enduring leadership in hydraulic breakers, which continue to enhance demolition and excavation efficiency.^[69] In the 1970s, Epiroc introduced the Boomer face drilling rig, a robust hydraulic system designed for tunneling and mining applications, providing precise and reliable drilling that remains a staple in underground operations today.^[2] Advancing into modern R&D, Epiroc expanded its battery-electric equipment portfolio in 2025 through strategic partnerships and large-scale orders, such as supplying battery-electric vehicles to Hudbay Minerals' Lalor mine in Canada, with deliveries commencing in the first quarter to support emission-free underground mining.^[70] This expansion aligns with Epiroc's commitment to a full lineup of emission-free surface equipment by 2030, integrating battery-electric drills and loaders to reduce operational emissions and noise in mining sites.^[71] Concurrently, Epiroc advanced automation for enhanced safety, exemplified by the Golden Hour initiative, which was initiated in 2017 and continues to advance autonomous systems in underground mining to minimize operator exposure to hazardous areas during critical production phases, as highlighted in a September 2025 customer story.^[72] In October 2025, Epiroc and Hancock Iron Ore achieved a milestone at the Roy Hill mine in Australia, converting all 78 haul trucks to fully autonomous operation using the LinkOA system—the world's largest OEM-agnostic autonomous mine—which has moved over 250 million tonnes of material and earned Epiroc the Hancock Innovation Award in 2025. In November 2025, Epiroc won two Mining Magazine Awards: the Fleet Excellence Award for LinkOA autonomous traffic management and the Technology of the Year for the Certiq connected marketplace.^[73]^[74] Epiroc's global R&D infrastructure includes the Nanjing center established in 2011, dedicated to engineering solutions tailored for Asian markets, accelerating product development and localization to meet regional demands in mining and construction.^[2] This facility supports innovations in AI and digital twins, such as those developed through the ReNAM project, where physics-based simulations model mining machines and environments to enable autonomous operations and predictive fleet management.^[75] These digital twins facilitate real-time optimization of equipment fleets, improving reliability and reducing downtime via integrated data analytics.^[76] In 2025, Epiroc launched the COP QM50CR rock drill at Bauma, representing the most powerful in its COPROD series with 50 kW output, offering extended service intervals and superior performance over predecessors like the COP 5060CR for demanding underground bolting.^[77] This innovation underscores Epiroc's industry impact through Total Tunneling, introduced at the same event as an integrated suite of automated products and solutions for underground civil construction, enhancing safety, productivity, and tunnel quality via seamless battery-electric and digital operations.^[78] Complementing this, the 2025 Explorers initiative integrates advanced tools for mineral exploration, leveraging Epiroc's drilling technologies to address challenges in remote and harsh environments, thereby supporting sustainable resource discovery.^[79]

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About Epiroc
Epiroc is a leading productivity partner for the mining, infrastructure and natural resources industries.
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History - Epiroc AB
Epiroc's history began in 1873 when the company – then called Atlas – was founded in Stockholm, Sweden. Epiroc and Atlas Copco share their history until ...
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Products | Epiroc
Our range of products · Drill rigs · Electrification solutions · Excavator attachments · Exploration and Geoscience · Loaders and trucks · Open autonomy · Raiseboring ...Training products · Drill rigs · Rock Drilling Tools · Loaders & trucks (LHDs)
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Parts and services · Custom Engineered Solutions · Fluid management solutions · Remanufacturing · Replacement parts and kits · Rock drills and rotation units · Safe ...
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Epiroc split from Atlas Copco Group
Atlas Copco split into two companies, distributing Epiroc AB to shareholders in a 1:1 ratio, focusing on mining, infrastructure and natural resources.
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Epiroc became fully independent after its shares started trading on Nasdaq Stockholm and all shares were distributed to Atlas Copco shareholders.
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May 2, 2017 · Epiroc is the name of the company Atlas Copco will split out in 2018, focused on mining and civil engineering, with Epi meaning "on" and Roc ...
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Helena Hedblom appointed Epiroc's next President and CEO
Nov 26, 2019 · The Board of Directors of Epiroc AB has appointed Helena Hedblom as the new President and CEO of Epiroc AB, effective March 1, 2020.
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Epiroc breaks ground on new global distribution center in Sweden
Sep 18, 2025 · Örebro is one of Epiroc's global manufacturing, R&D and distribution hubs. The company employs around 3 000 people in the city, out of a global ...Missing: Nanjing | Show results with:Nanjing
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21% of Epiroc's employees works in North America. · 8% of Epiroc's employees works in South America. · 15% of Epiroc's employees works in Africa/Middle East. · 31% ...
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Epiroc and Luck Stone launch first fully autonomous SmartROC D65 ...
Sep 2, 2025 · Epiroc is based in Stockholm, Sweden, had revenues of around SEK 64 billion in 2024, and has around 19 000 passionate employees supporting and ...
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Epiroc AB (publ) (EPI-B.ST) Valuation Measures & Financial Statistics
Return on Assets (ttm), 9.14%. Return on Equity (ttm), 21.57%. Income Statement. Revenue (ttm), 63.16B. Revenue Per Share (ttm), 52.26. Quarterly Revenue Growth ...
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Epiroc interim report Q3 2025 Revenues decreased -3% to MSEK 15 242 (15 699), with currency impacting negatively by -8%. The organic increase was 5%. •...Financial publications · Financial Calendar · Investor contacts · Shareholders
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Epiroc Reports Q3 2025 Earnings: Focus on Growth and Innovation
Oct 29, 2025 · Key financial metrics for Q3 2025 showed a 2% decrease in orders received to MSEK 15,142, with revenues down 3% to MSEK 15,242. Operating profit ...
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Epiroc USA - Mining Equipment | Epiroc US
We cover segments from Mining, Construction, Demolition and recycling, to Water, oil and gas. We have products, solutions and services for mining & rock ...Contact us · Careers · Rock Drilling Tools · Mining
[16]
Epiroc: A Culture of Moving Mountains - Quartr
The spinoff: Epiroc became independent in 2018 after Atlas Copco spun off its mining business area to unlock greater focus and growth. Automation leader: Over ...
[17]
Epiroc leads the way with outstanding tools and technology
Sep 14, 2023 · Originally developed by Krupp Berco Bautechnik, the rig-mounted hydraulic breaker was patented in 1963. The first machine HM 400 was a hit ...
[18]
Atlascopcosaurus - Atlas Copco Australia
Loadsi refers to Bill Loads, Atlas Copco's manager in Victoria who made the decision to support the project. The excavations at Dinosaur Cove resulted in yet ...Missing: 1984 | Show results with:1984
[19]
Atlas Copco finalizes the acquisition of Ingersoll-Rand Drilling ...
Jul 1, 2004 · The purchase price was MUSD 225 (MSEK 1 700), paid in cash. Ingersoll-Rand Drilling Solutions is a manufacturer and distributor of drilling ...
[20]
Epiroc trading on Nasdaq Stockholm starts today
Jun 18, 2018 · This marks the start of Epiroc as a fully independent company following its separation from the Atlas Copco Group.
[21]
Nasdaq Stockholm Welcomes Epiroc to the Main Market
Jun 18, 2018 · Epiroc is a spin-off from Atlas Copco AB and is the 40th company to list on Nasdaq's Nordic markets* in 2018. Epiroc is a productivity partner ...
[22]
Helena Hedblom – a trailblazing leader in the mining industry - IVA
Oct 21, 2025 · Epiroc AB was listed as an independent company in 2018 and Helena Hedblom took over as CEO in 2020 – bringing with her two decades of experience ...
[23]
Epiroc's ambitious climate targets validated as science based
Nov 18, 2021 · The SBTi has now validated Epiroc's climate targets as being in line with keeping global warming at a maximum 1.5° C, consistent with the latest climate ...
[24]
Epiroc accelerates the transformation as its autonomous drills reach ...
Mar 9, 2023 · Epiroc has launched several initiatives to support the industry to extract the needed minerals in the most sustainable and efficient way ...
[25]
Epiroc announces changes to Group Management and implements ...
Aug 6, 2025 · To create a more focused and effective organizational structure, Epiroc will implement two Business Areas effective September 1, 2025. The ...Missing: restructure | Show results with:restructure
[26]
Epiroc to offer Jama battery scalers & rescue chambers in new ...
Epiroc to offer Jama battery scalers & rescue chambers in new partnership. Posted on 15 Oct 2025. Epiroc's Underground division has announced a partnership ...
[27]
Beneath the Surface: A Conversation with Epiroc CEO Helena ...
Oct 17, 2025 · She speaks candidly about customer obsession, radical decentralization, and a culture of persistence – and how Epiroc is reshaping how the world ...
[28]
Helena Hedblom - Epiroc AB
Helena Hedblom ; Function, President and CEO ; Since, In current position since 2020. Member of Group Management since 2017. ; Nationality, Swedish ; Born, 1973.
[29]
Insights From Helena Hedblom, President & CEO of Epiroc AB
Rating 5.0 (4) Jun 3, 2020 · Following graduation, she set out on a typical engineering career path. She took on a specialist product development role at Atlas Copco ...
[30]
Women's Role in the Green Transformation at Epiroc - Swedish Press
“We invest more than ever in R&D to drive these changes,” says Helena Hedblom, CEO of Epiroc, a Swedish company specializing in mining and infrastructure ...
[31]
The digital future of construction | Epiroc
Aug 16, 2024 · ... Helena Hedblom ,President and CEO of Epiroc. Automation functions. Surface drill rig for quarrying and construction. SmartROC T40. Big ...
[32]
Epiroc announces changes to Group Management and implements ...
Aug 6, 2025 · As a result, the Epiroc Group Management will consist of six positions in total, a reduction from the previous 13 positions.
[33]
Board of Directors - Epiroc Group
The Board of Directors of Epiroc has overall responsibility for the organization, administration and management of Epiroc in the best interests of the ...
[34]
Ronnie Leten - Epiroc AB
Name, Ronnie Leten. Function, Chair of Board. Since, 2017. Nationality, Belgian. Born, 1956. Education, M.Sc. in Applied Economics, Hasselt University, ...
[35]
Johan Forssell - Epiroc AB
Full-time Board and/or Chair. Member of the Boards of Atlas Copco AB, Wärtsilä Oyj Abp and ABB Ltd. and the Royal Swedish Academy of Engineering Sciences (IVA).
[36]
Jeane Hull - Epiroc Group
Jeane Hull ; Born, 1955 ; Education, B.Sc. in Civil Engineering, South Dakota School of Mines and Technology, USA. MBA, Nova Southeastern University, USA.
[37]
[PDF] Annual and Sustainabil ity Report 2023 - Cision
Mar 7, 2024 · The risk management work follows Epiroc's decentralized structure. Local entities are responsible for their own risk management, which is ...
[38]
Embracing diversity - Epiroc
Sep 30, 2020 · There is an active Diversity Network in place, where people like Helena Hedblom (recently appointed president and CEO of Epiroc) has talked ...Missing: executive 1991
[39]
Drill rigs | Leading manufacturer for 140 years | Epiroc US
Epiroc is a one of the leading drill rig manufacturers in the world. We offer rock drilling machines and other equipment for many different applications.Surface Drill Rigs · Rotary Blasthole Drilling Rigs · Mineral Exploration Drilling...
[40]
SmartROC T25 R | Epiroc US
Tophammer surface drill rig for quarrying and construction. Impressive adaptability. Exceptional coverage. Great terrainability. Close. SmartROC T25 R.
[41]
Epiroc launches new flagship construction drill rig SmartROC T25 R
May 24, 2023 · The SmartROC T25 R offers a service friendly design with easy access to important components. Fuel consumption has been optimized, and the rig ...
[42]
Boomer E3 - Face drill rig - Epiroc
The Boomer E3 (model names XE3 and WE3) is a hydraulic face drilling rigs for medium to large drifts and tunnels with cross sections up to 198 m².To Optimize Uptime, This Rig... · Powerful Productivity · Suitable Rock Drill
[43]
Boomer M1D and M2D | Epiroc US
Your trusted partner with safety in mind. The durable and robust Boomer M1D and M2D rigs are hydraulically controlled mining and tunneling face drilling rigs.
[44]
Epiroc - Facebook
Oct 2, 2025 · #ThrowbackThursday Between 1959 and 1962, our rock drills and hydraulic breakers played a key role in the construction of the Mont Blanc ...Missing: Atlas Copco 1963
[45]
Scooptram ST3.5 | Underground loader | Epiroc US
The Scooptram ST3.5 is a 6 metric tonne underground diesel loader for small to medium-sized operations. Safety underground. Sturdy underground loader.
[46]
Scooptram ST7LP - Underground loaders - Epiroc
The low-profile Scooptram ST7LP is a 6.8 metric ton underground loader built for low-seam applications. Operators can achieve more in the comfortable and ...
[47]
Underground mining trucks - Epiroc
Epiroc's range of mine trucks for underground mining and tunneling applications includes models with payload capacities from 20-65 tonnes.Epiroc Trucks For Haul, Dump... · Innovation Underground · Reliable Solutions
[48]
Serpent ventilation fans | Epiroc US
Epiroc's high pressure Serpent fans are designed to deliver air through ducts in underground mining and tunneling projects. Our fans are available in ...
[49]
Underground ventilation systems | Epiroc US
Epiroc offers a complete ventilation solution for tunneling and underground mining operations, including system design and installation of fan stations and ...
[50]
Epiroc launches Deep Automation - solutions for underground ...
May 30, 2023 · Deep Automation is Epiroc's cutting-edge set of automation systems and applications, used to orchestrate loaders and trucks in underground ...<|control11|><|separator|>
[51]
Underground mining | Epiroc US
Epiroc's Mining and Rock Excavation Technique division provides equipment for drilling and rock excavation, a complete range of related consumables, ...Safety Comes First · Tailor Made Solutions · Accessible, Reliable ServiceMissing: divisions | Show results with:divisions
[52]
Tunneling and underground infrastructure | Epiroc US
Tunneling and underground infrastructure. Epiroc covers all your equipment needs, such as face drills, rock reinforcement rigs, ventilation, loaders and trucks.Sustainable, Holistic... · Flexible Financing Solutions · Reliability Increases UptimeMissing: division | Show results with:division
[53]
Rock Drilling Tools | A Productive Range of Drilling Tools | Epiroc US
When it comes to world-class rock drilling tools, you need to look no further than Epiroc. Our products are top-of-the-line. Guaranteed. Read more!Rockbolt Selector · Product Overview · Grinding Equipment
[54]
Excavator Attachments | Demolition Equipment | Epiroc US
Epiroc offers excavator attachments for every application (demolition, renovation, recycling, earth moving, trenching etc.). Read more!Hydraulic breakers · Excavator magnets · Drum cutters · Hydraulic Compactor
[55]
Ground Engaging Tools | Epiroc US
The SaberEdge™ system combines universal GET with a cast-integrated, machined stabilisation design and fully mechanical wear pads.
[56]
Tools & Attachments Business Area - Epiroc Group
The Tools & Attachments Business Area offers leading and specialized products and solutions that support efficient operations across mining, infrastructure, ...
[57]
Replacement parts and kits | Epiroc US
Epiroc Kits are sets of spare parts for the most common repairs and maintenance operations, collected together in one box.Missing: oil | Show results with:oil
[58]
Exploration drilling tools | Epiroc US
We offer a broad range of core drilling rigs for surface and underground. Read more. Explorac 235 reverse circulation drilling rig ...
[59]
Epiroc publishes Annual and Sustainability Report for 2023
Mar 7, 2024 · The report shows how Epiroc creates value for its stakeholders by accelerating the transformation toward strengthened safety and productivity ...
[60]
Epiroc unlocks economic and environmental sustainability through ...
Jun 10, 2025 · Built on the principles of the circular economy, Epiroc Circular solutions aim to help customers maximize the value of equipment while reducing ...Missing: initiatives | Show results with:initiatives
[61]
Epiroc leads the way with outstanding tools and technology
Sep 14, 2023 · Originally developed by Krupp Berco Bautechnik, the rig-mounted hydraulic breaker was patented in 1963. The first machine HM 400 was a hit ...
[62]
[PDF] Hydraulic attachment tools - Epiroc
When it was patented in 1963, the hydraulic breaker was the first hydraulically driven tool to be attached to a hydraulic excavator and it brought a completely ...
[63]
Epiroc wins large order for battery-electric vehicles for Canadian ...
Mar 13, 2025 · Delivery of the machines to the Lalor mine will take place between the first and third quarters 2025. Epiroc has been awarded orders for BEVs to ...
[64]
Powering the future of mining | Epiroc US
Aug 8, 2025 · CL: “Epiroc is committed to expanding its battery-electric offerings. By 2030, we aim to have a full lineup of emission-free surface equipment.
[65]
Golden hour for automation | Epiroc US
Automation is changing underground mining at its core, with improved safety for operators as one of the most obvious benefits.Missing: September | Show results with:September
[66]
Epiroc collaborates with leading partners through ReNAM project to ...
Sep 12, 2023 · As a first step, realistic digital twins of mining machines and surroundings will be modelled in a physics-based simulation environment.
[67]
Epiroc leads collaborative project for autonomous face drilling
Aug 31, 2023 · A crucial part of the project will be to construct and employ a digital twin of a mine – a simulated testing environment – for machine learning, ...
[68]
bauma 2025 | Epiroc US
With Total Tunneling you can achieve the high-quality tunnel you always envisioned – at lower costs. Our comprehensive offering combines cutting-edge ...
[69]
Epiroc introduces Total Tunneling at Bauma 2025
Mar 31, 2025 · Total Tunneling is Epiroc's integrated set of products and solutions developed for underground civil construction.Missing: Mont Blanc
[70]
Meet the explorers | Epiroc
Sep 24, 2025 · Meet the explorers. September 24, 2025. Exploration is a traditionally tough sector in the mining business. But where others see adversity ...