In late 2020, Sandvik has signed an agreement to acquire DSI Underground, the global leader in ground support and reinforcement products, systems and solutions for the underground mining and tunneling industries. The company will be reported in Sandvik Mining and Rock Solutions.
“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”, says Stefan Widing, President and CEO of Sandvik.
DSI Underground is present in 70 countries, with 22 production units. The product offering includes bolting systems, injection chemicals and resin capsules.
“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”, says Henrik Ager, President of Sandvik Mining and Rock Solutions.
DSI Underground has approximately 2000 employees. DSI Underground’s revenue for 2020 is expected to be about 518 million euros, excluding four joint ventures, which are part of the acquisition. The purchase price is approximately 943 million euros. The transaction is expected to close by mid-2021 and is subject to relevant regulatory approvals.