Sandvik to acquire Universal Field Robots

STOCKHOLM, Aug. 27, 2024 /PRNewswire/ -- Sandvik has signed an agreement to acquire Universal Field Robots (UFR), a fast-growing Australia-based provider of autonomous interoperable solutions for the surface mining and underground mining markets. UFR will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions.

UFR's solution portfolio is built on a common autonomy platform, which is a strong complement to Sandvik's automation offering and includes OEM (Original Equipment Manufacturer) agnostic robotic and autonomous solutions for trucks, loaders and auxiliary equipment. The acquisition will help to increase the addressable market for Sandvik and further strengthens the market position of Sandvik AutoMine^® - the world's leading mining automation platform. Adding to the AutoMine^® platform's existing capabilities to integrate third party equipment, UFR will significantly expand the number of compatible third-party equipment types, providing customers with flexible opportunities to optimize the performance of their full mining equipment fleets, regardless of the OEM.

"Universal Field Robots is an important strategic addition to Sandvik Mining and Rock Solutions, which will strengthen our growth potential and provide key capabilities in the development of our mining automation solutions portfolio going forward," says Stefan Widing, President and CEO of Sandvik. 

UFR has approximately 40 employees and is headquartered in Brisbane, Australia. In the financial year that ended in June 2024, the company generated revenues of approximately SEK 80 million. The impact on Sandvik's EBITA margin will be limited. The impact on Sandvik's earnings per share (excluding non-cash amortization effects from business combinations) will be positive. The parties have agreed not to disclose the purchase price. The transaction is expected to close during the fourth quarter of 2024.

Stockholm, August 27, 2024
Sandvik AB

For further information, contact:
Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008

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SOURCE Sandvik