Sweden-based mining solutions provider Sandvik has completed the acquisition of metrology and automation company DWFritz Automation, a company that designs, builds and supports engineer-to-order metrology solutions and automation systems.
The company struck the original agreement in July 2021 to expand its metrology offering and improve its high-speed, high-volume, non-contact inspection and assembly automation portfolio. The company did disclose the financial details of the deal.
The agreement follows a series of similar acquisitions in 2021 and 2020 designed to diversify its offerings and improve its market presence across the mining industry.
In August 2021, it took over CNC Software and secured the purchase of Tricon Drilling Solutions earlier in the year. At the end of 2020, it bought German tunnelling technologies company DSI Underground.
In 2020, DWFritz Automation had revenues of approximately $78 million (SEK 720 million) and earnings before interest and taxes (EBIT) margin.