PRESS RELEASE: With this acquisition, SMT Scharf stated that it is further pursuing its corporate strategy and strengthening its market position as an integrated system provider in the underground logistics area. The purchase price amounts to approximately C$8 million (US$6.4 million).
Hans Joachim Theiss, CEO of SMT Scharf, explained: “With its portfolio of diesel and electric vehicles for non-coal and salt mining as well as tunnel construction sites, RDH possesses outstanding product expertise in this niche. The takeover forms an ideal augmentation of SMT Scharf’s portfolio to include rubber-tyre vehicles and gives us an even broader positioning in the market. By aggregating the international sales and after-sales expertise of SMT Scharf with the acquired product programme, we can achieve far-reaching synergies in the international hard-rock and tunnel markets, and further boost capacity utilisation across our group.”
RDH has specialised in high-quality underground equipment for mining and tunnel construction for more than 30 years and has been especially active in the North American market to date with a revenue share averaging above 50%. Its varied product range extends from jumbo drilling equipment through to load-haul-dump machines (LHDs), scissor lifts and low-loaders.
Since 2011, the company has been one of the pioneers in battery-driven non-coal underground mining equipment. With around 50 staff, RDH generated sales of C$14.5 million (US$11.6 million) in its fiscal year ending April 30, 2017.
Theiss concluded: “For SMT Scharf, as one of the worldwide leading providers of transport solutions and underground logistics systems, the acquisition of RDH Mining Equipment represents an important strategic milestone to further advance our growth. We are convinced the takeover will exert a positive effect on our sales revenue and earnings trends in the current financial year.”