Sandvik completes the acquisition of DSI Underground

Sandvik has completed the previously announced acquisition of DSI Underground, the global leader in ground support and reinforcement products, systems and solutions for the underground mining and tunneling industries.

In 2020, DSI Underground had revenues of about EUR 516 million (excluding the four joint ventures that are part of the acquisition) and a pro-forma EBIT margin ~200 basis points dilutive to Sandvik Mining and Rock Solutions’ margin, including purchase price allocation. The purchase price is approximately EUR 943 million on a cash and debt free basis. Impact on Sandvik’s earnings per share will be slightly positive. DSI Underground has around 2,000 employees.

DSI Underground will form Sandvik Mining and Rock Solutions' new Ground Support division.

Stockholm, July 7, 2021

Sandvik AB

For further information, contact:
Louise Tjeder
Vice President Investor Relations
Tel: +46 70 782 6374

or

Johannes Hellström
Press and Media Relations Manager
Tel: +46 70 721 1008

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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 sustainability. 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 industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2020, the Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries within continuing operations.