Sandvik Completes Acquisition of Universal Field Robots, Boosts Mining Tech Division
AinvestMonday, Dec 2, 2024 6:20 am ET
1min readSandvik has finalized the acquisition of Universal Field Robots (UFR), an Australian provider of autonomous mining solutions. UFR will be reported in Sandvik's Digital Mining Technologies division and has 40 employees. The acquisition had a turnover of 80 million SEK during the financial year ending in June. The impact on Sandvik's EBITA margin will be limited, and the acquisition will have a positive impact on earnings per share.
Sandvik, a leading provider of mining and rock solutions, has announced the acquisition of Universal Field Robots (UFR), an Australian company specializing in autonomous interoperable solutions for surface and underground mining markets [1]. The acquisition will be reported in Sandvik's Digital Mining Technologies division, a part of the Sandvik Mining and Rock Solutions business area.UFR's solution portfolio, built on a common autonomy platform, complements Sandvik's automation offerings and includes OEM-agnostic robotic and autonomous solutions for trucks, loaders, and auxiliary equipment [1]. This acquisition will expand Sandvik's addressable market and further strengthen its position as the world's leading mining automation platform, Sandvik AutoMine [1].
With approximately 40 employees and headquarters in Brisbane, Australia, UFR generated revenues of approximately SEK 80 million in the financial year ending in June 2024 [1]. The impact on Sandvik's EBITA margin will be limited, and the acquisition is expected to have a positive impact on earnings per share, excluding non-cash amortization effects from business combinations [1]. The purchase price has not been disclosed, and the transaction is expected to close during the fourth quarter of 2024 [1].
The addition of UFR's capabilities to Sandvik's mining automation solutions portfolio will enable customers to optimize the performance of their full mining equipment fleets, regardless of the OEM [1]. This acquisition further demonstrates Sandvik's commitment to innovation and growth in the mining industry.
References:
[1] Sandvik. (2024, August 27). Sandvik to acquire Universal Field Robots. Retrieved from https://www.home.sandvik/en/news-and-media/news/2024/08/sandvik-to-acquire-universal-field-robots/
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