Sandvik to acquire Universal Field Robots in Q4 this year

Sandvik has signed an agreement to acquire Universal Field Robots (UFR) with the transaction expected to close in Q4 CY24.

UFR is headquartered in Brisbane, Australia, and provides autonomous interoperable surface and underground mining solutions.

Sandvik president and chief executive Stefan Wilding says “Universal Field Robots is an important strategic addition to Sandvik Mining and Rock Solutions”.

“[This] will strengthen our growth potential and provide key capabilities in the development of our mining automation solutions portfolio going forward,” he said.

With about 40 employees, UFR generated about $11.5m (SEK 80m) in FY24.

Sandvik says in a statement that the impact on Sandvik’s EBITA margin will be limited, but that the impact on its earnings per share (excluding non-cash amortization effects from business combinations) will be positive.

Both parties have agreed not to disclose the purchase price.

The statement also says UFR’s solution portfolio, built on a common autonomy platform, 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,” it said.

“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 optimise the performance of their full mining equipment fleets, regardless of the OEM.”

Once the transaction is completed, UFR will be part of Digital Mining Technologies, a division within the business area Sandvik Mining and Rock Solutions.