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Sandvik acquires digital mining technology company Newtrax

Mining News - Published on Thu, 18 Apr 2019

Image Source: Mining Journal
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. Henrik Ager, President of Sandvik Mining and Rock Technology, said “By including Newtrax into the Sandvik family we further strengthen our leading position in areas related to automation and digitalization.”

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.

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.

Source :

Posted By : Rabi Wangkhem on Thu, 18 Apr 2019
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