Sandvik has completed the previously announced acquisition of Newtrax, a supplier of technology in wireless connectivity to monitor and provide insights on underground mining operations, including people, machines and the environment.
Newtrax is headquartered in Montréal, Canada, and in 2018 Newtrax generated revenues of about 26 million CAD with 120 employees. The deal is initially slightly accretive to earnings per share.
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas –tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2018, the Group had approximately 42,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.