5 Dec 2019
EUR 20 million
Financial institutions and SMEs
|Date of agreement:||22 Jan 2019|
|Amount in SEK:||SEK 1000 million|
|Amount in EUR:||EUR 96.2 million|
|NACE sector / loan type:||Mining and quarrying|
|Business area:||Industries and services|
The loan will finance Epiroc’s R&D investments in Sweden during 2018–2021.
Epiroc operates in the mining, infrastructure and natural resource industries by developing and producing innovative drilling rigs and rock excavation and construction equipment. The majority of its R&D activities are related to new products or upgrading existing products in the field of rock excavation, automation, interoperability and energy efficiency.
Approximately 75% of Epiroc’s R&D activities take place at the company's R&D centres in Örebro and Fagersta, Sweden.
Epiroc provides equipment for drilling and rock excavation, and a range of related consumables and service to customers in more than 150 countries. The company has more than 13,000 employees. Its principal product development and manufacturing units are located in Sweden, the United States, Canada, Germany, China and India.
Epiroc was part of the Atlas Copco Group, founded in 1873, until 18 June 2018, when Epiroc was demerged from Atlas Copco and listed on the stock exchange.
Epiroc has a good track record in developing and commercialising its R&D. As well as the company itself, the expected impacts are likely to benefit the region at large, as Epiroc is an important player in the Nordic mining cluster. The company collaborates with universities, research institutes and technology companies, as well as equipment and service providers. Therefore, the outcomes of the R&D project are likely to be widely distributed across the economy through knowledge spill-overs and demonstration effects. By adding value to the skills associated with mining, investments are likely to expand market opportunities supporting employment and deliveries.
No significant negative environmental aspects are expected from the R&D investments.