Sweden's Sandvik to buy DSI Underground in €934m deal

Swedish engineering company Sandvik has agreed to buy mining and tunnelling company DSI Underground from its parent company Triton in a €934 million deal. 

DSI has been a part of Triton since 2011 and will be integrated into Sanvik's Mining and Rock division as part of the new deal.

Sandvik Mining and Rock Solutions works in mining and construction with services including rock drilling and cutting, loading and hauling, tunnelling and quarrying.

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DSI operates in 70 countries worldwide and currently employs over 2000 people across its 20 production facilities.

Stefan Widing, President and CEO of Sandvik, said: “This acquisition is an important step in our growth ambition. DSI Underground’s track record of driving progress and safety in underground operations and its global reach will further strengthen our world-leading market position within mining and rock solutions."

Henrik Ager, President of Sandvik Mining and Rock Solutions, said DSI was complementary to its existing business.

He added: "The deal gives DSI Underground access to Sandvik’s substantial R&D, global service and sales network, complements our growing aftermarket business and strengthens our leadership in underground mining and tunnelling."

Michael Reich, CEO of DSI Underground, said: "We believe that we have a strong new industrial home in Sandvik, with good growth opportunities and strong product and geographic synergies. Sandvik’s strategy is to invest in strong businesses with good growth potential.

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”With our knowledge of ground support technologies, we can add a valuable and complementary offering to Sandvik Mining and Rock Solutions. On the other hand, we will benefit from the knowledge of the new group and Sandvik’s global customer network. Our customers will continue to receive the products and services at the same high quality with the associated service.”

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