PRESS RELEASE: The deal was first announced on October 23, 2018, although the purchase price was not disclosed.

Fordia is based in Montreal, Canada, and has sales in more than 70 countries. It provides exploration drilling tools such as diamond bits, down-the-hole tools, drill rods and drill casings, as well as water treatment systems and pumps, used by mining houses and drilling contractors. It has about 250 employees and had revenues for the 12 months ended September 2018 of about US$62 million (C$85 million).

Fordia is now part of Epiroc's Rock Drilling Tools division, and will continue to be based in Montreal.