Sandvik acquires digital mining technology company Newtrax
Sandvik AB has acquired privately owned Newtrax, a supplier of 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,” said Henrik Ager, president of Sandvik Mining and Rock Technology.
Sandvik’s suite of digital tools for analyzing and optimizing mining production and processes, coupled with Newtrax’s leading technology in wireless IoT (internet of things) connectivity will create a powerful, streamlined digital solution to improve safety and efficiency in underground mining operations, the company said.
“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,” said Patrick Murphy, president of Sandvik Rock Drills and Technologies Division.
Newtrax is headquartered in Montreal and in 2018 the company generated revenues of about C$26 million with 120 employees. Newtrax will be run as an independent business unit within the division Rock Drills and Technologies in the business area of 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.
(This article first appeared in the Canadian Mining Journal)