Epiroc has started trading on Nasdaq Stockholm, marking its start as a fully independent company following its split from Atlas Copco. Atlas Copco first announced it was planning to split into two separate companies in January 2017 in an attempt to produce a new mining-focused business that could help to streamline Atlas Copco operations. As such, Epiroc’s aim as a company is to provide equipment, solutions and services for mining, infrastructure and natural resources customers as opposed to Atlas Copco’s more industrial focus.
The move to list Epiroc publicly is expected to increase the company’s focus and will enable Epiroc to work with a separate management team with independent access to capital.
Per Lindberg, president and chief executive officer of Epiroc was naturally pleased with the development, which has been in the works since the decision was taken to list Epiroc on the Nasdaq at April’s Atlas Copco annual general meeting (AGM), with shareholders received one Epiroc shares for each Atlas Copco share.
“It is very exciting to be listed on Nasdaq Stockholm and to start the journey as an independent company,” he said.
“We are proud of our long and productive heritage in the Atlas Copco Group, and at the same time we look forward to serving our customers in an even more focused way and to deliver customer and shareholder value.”