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Epiroc AB (publ)
Epiroc makes the machines and tools that miners and construction crews use to drill, dig, and crush rock, and it services that equipment too.
Epiroc is a Swedish maker of mining and construction equipment — the rigs that bore holes in rock, the tools that do the cutting, and the service crews that keep them running. Its customers are mining companies and construction firms, the people whose job is to break hard ground and turn it into ore or infrastructure. When a mine needs to blast a tunnel or a quarry needs rock crushed, Epiroc's machines are often the ones doing the work.
The business splits into two big buckets. One sells new equipment — rock drilling rigs, underground loaders, and demolition tools — while the other provides the aftermarket: spare parts, maintenance, and service contracts for machines already in the field. That second bucket matters a lot, because drills and loaders wear out and need constant attention, which gives Epiroc steady recurring revenue even when new machine orders slow down. A drill rig punching through granite is like a car driving on gravel every day — it needs parts and care far sooner than a highway cruiser. Epiroc was created in 2018 when the industrial giant Atlas Copco split itself in two, handing its mining and rock excavation business to the new company. Its big competitors are world-spanning equipment makers such as Caterpillar, Komatsu, and Sandvik. These are all companies selling similar heavy iron to the same mining customers, so Epiroc leans on its service network and its reputation for reliability to win repeat business.
Mining is a cyclical, capital-heavy game, so Epiroc's results rise and fall with commodity prices and miners' spending moods. Still, the service side smooths the ride, and the company has been pushing automation and battery-electric equipment for underground mines — a bet that tighter emissions rules and deeper mines will make cleaner machines worth paying for. It pays a dividend and has grown through small acquisitions that add tools and digital systems. The simple version: Epiroc sells the picks and shovels of the mining world, and then keeps the shovels sharp.
Saved answer · last researched 12 Nov 2026