Sandvik acquires digital mining technology company Newtrax
Sandvik acquires privately-owned Newtrax, a supplier of leading technology in wireless connectivity to monitor and provide insights on underground operations, including people, machines and the environment.
“By including Newtrax into the Sandvik family we further strengthen our leading position in areas related to automation and digitalization,” says Henrik Ager, President of Sandvik Mining and Rock Technology.
Sandvik’s leading suite of digital tools for analyzing and optimizing mining production and processes, coupled with Newtrax’s leading technology in wireless IoT connectivity will create a powerful, stream-lined digital solution
to improve safety and efficiency in underground mining operations.
“By combining our current offering OptiMine® with the Newtrax offering we can help customers achieve a more efficient use of their resources. The system is agnostic to network or brand of equipment, facilitating a flexible
customer solution,” says Patrick Murphy, President of Sandvik Rock Drills and Technologies Division.
Newtrax is headquartered in Montréal, Canada and in 2018 the company generated revenues of about 26 million CAD with 120 employees. Newtrax will be run as an independent business unit within the division Rock Drills and Technologies in the business area Sandvik Mining and Rock Technology.
The transaction is expected to close in the second quarter 2019. Parties have agreed not to disclose the purchase price. The deal is initially slightly accretive to earnings per share.
Stockholm, 17 April 2019
Sandvik AB
For further information contact
Ann-Sofie Nordh
Vice President Investor Relations,
Phone: +46 8 456 14 94
or
Martin Blomgren
Press and Media Relations Manager
Phone: +46 70 577 0549
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Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2018, the Group had approximately 42,000 employees and sales of 100 billion SEK in more than 150 countries within continuing operations.