Mining Magazine > Panorama > Atlas Copco to acquire GIA

Atlas Copco has agreed to acquire the underground business of GIA Industri from Vätterledens Verkstad. GIA Industri will be part of the Underground Rock Excavation division within Atlas Copco’s Mining and Rock Excavation Technique. The acquisition is expected to be closed during the March quarter of 2012.

The acquisition will broaden Atlas Copco’s offering with products including electric mine trucks, utility vehicles and ventilation systems. GIA’s products also include locomotives and shuttle car systems for underground transportation, charging and service trucks, scaling and cable bolting equipment, digging arm loaders (Häggloader) and complete ventilation systems.

The GIA headquarter and production facility is located in Grängesberg, Sweden. The acquired business has 113 employees and annual revenues of about US$33.1 million, and is mainly represented through distributors. The seller will retain the operations of GIA that are not related to mining, and the parties have agreed not to disclose the purchase price.

Bob Fassl, business area president for Atlas Copco Mining and Rock Excavation Technique, said: “The acquisition of GIA is a good strategic fit for Atlas Copco. We are entering new market segments and will be able to serve customers with an even broader product portfolio. We especially look forward to offering our customers the Kiruna electric haulage truck with its strong environmental profile, and see great opportunities in leveraging Atlas Copco’s global sales network for this and GIA’s other products.”