Sandvik Acquires Digital Mining Technology Company Newtrax
Newtrax Acquisition Boosts Sandvik’s Automation Capabilities
Sandvik has reached an agreement to acquire Newtrax, a privately-owned supplier of leading technology in wireless connectivity to monitor and provide insights on underground operations, the company announced on April 17.
“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 suite of digital tools for analyzing and optimizing mining production and processes, paired with Newtrax’s technology offerings in wireless connectivity will create a powerful, stream-lined digital solution to improve safety and efficiency in underground mining operations, the company 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,” says Patrick Murphy, president of Sandvik Rock Drills and Technologies Division.
Headquartered in Montréal, Canada, Newtrax generated revenues of roughly $19.3 million (26 million CAD) with 120 employees in 2018. The company will be run as an independent business unit within Sandvik’s Rock Drills and Technologies Division, under Sandvik Mining and Rock Technology.
Terms of the deal were not disclosed and the transaction is expected to be completed in the second quarter of 2019.
Sandvik offers equipment, tools, service and technical solutions for the mining industry and rock excavation within the construction industry. The company has more than 40,000 employees worldwide. For more information, visit www.sandvik.com.