"We have found a better home for this business, which we have defined as a non-strategic core area for us," said Helena Hedblom, Epiroc's senior executive vice president Mining and Infrastructure. "We believe it will have a good future with the new owner."

The product line Epiroc is selling to it is part of its Epiroc's Rock Drilling Tools division. The products in the business being sold are manufactured and assembled in Finland, Scotland and the US and consist mainly of large down-the-hole hammers and related drill bits and casing advancement systems.

About 40 Epiroc employees work with the product line and will follow the business, which generated about SEK275 million (US$29 million) in revenue in 2018.