Sweden-based Sandvik last week reached an agreement to acquire Hydramatic Engineering Pty Ltd.
Hydramatic is a designer and manufacturer of specialized drilling/bolting machines under the brand ARO, used for the installation of strata control in underground mines and tunnels. Based on strong engineering performance, good products and high research and development competence, Hydramatic has developed a strong market position in Australia and is active in the main coal-producing markets of South Africa, the United States, Russia, United Kingdom and China, Sandvik officials said. For Sandvik, this acquisition offers an expanded product offering and operational synergies that allow for further growth and product development through R&D cooperation and access to Sandvik’s existing global sales network.
Hydramatic’s head office and manufacturing facilities are located in Redhead, Australia, and other units are established in South Africa, Germany, the U.S. and U.K. In 2006 Hydramatic had sales of about SEK 330 M (about U.S. $ 47 million) and 290 employees.
The Hydramatic business will be integrated into the Sandvik Mining and Construction operations.
Lars Josefsson, president of Sandvik Mining and Construction, says the acquisition is in line with the group’s long-term growth strategy.
“Hydramatic is an innovative company with a strong market position, and by acquiring it we intend to grow the business and further develop the product globally,” Josefsson said. “The acquisition also extends Sandvik’s underground mining product offering and allows for global distribution through our existing sales channels.”
Sandvik is a global industrial group that produces tools for metal cutting, machinery and tools for rock excavation, stainless materials, special alloys, metallic and ceramic-resistance materials as well as process systems and sorting systems.
Sandvik Mining and Construction is a business area within the Sandvik Group and is a global supplier of machinery, cemented-carbide tools, service and technical solutions for the excavation of rock and minerals in the mining and construction industries.
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