Sandvik Acquires Canadian Digital Mining Technology Company Newtrax
[Click image to enlarge]
[Click image to enlarge]
Sandvik has acquired Newtrax, a Canadian supplier whose wireless connectivity technology offers insights on underground operations, including people, machines and the environment.
Sandvik will combine its suite of digital tools for analyzing mining production and processes with Newtrax’s technology in Internet of Things connectivity to create a digital solution aimed at improving safety and efficiency in underground mines.
Newtrax will operate as an independent business unit within Sandvik’s rock drills and technologies business area of Sandvik Mining and Rock Technology.
Henrik Ager, president of Sandvik Mining and Rock Technology, says: “By including Newtrax into the Sandvik family we further strengthen our leading position in areas related to automation and digitalisation.”
Patrick Murphy, president of Sandvik rock drills and technologies division, says: “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.”
The transaction is expected to close during the second quarter of 2019 for an undisclosed purchase price. The deal is initially slightly accretive to earnings per share.
Source: ARI
To stop by Sandvik’s website, CLICK HERE
To stop by Newtrax’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
