Sandvik has agreed to buy DSI Underground from Triton for €943 million. DSI is a €500 million revenue business that provides ground support and reinforcement technology for underground mines and tunnels.
DSI, which will become part of Sandvik’s Mining and Rock Solutions division, was originally part of the German-based DYWIDAG construction business, which more recently operated as DYWIDAG-Systems International (DSI). It has been owned by European private equity business Triton since 2011.
DSI has 2,000 employees and is active in 70 countries, with 20 production facilities.
DSI Underground’s business includes tunnel reinforcement.
Vermeer Corp. announced it has acquired electric-powered horizontal directional drilling (HDD) and fluid systems technology from Dutch manufacturer Normag. Through this acquisition, Vermeer assumes the rights to develop, manufacture and distribute the Continue reading “Vermeer buys Normag drilling technology”
Japanese manufacturer Yanmar is to acquire US-based compact tracked and wheeled skid steer loader producer ASV for US$70.7 million.
This was said to be a key part of Yanmar’s long-term international growth plans since ASV’semployee base, manufacturing and distribution facility, international distribution network and supply chain all provide a strong platform for expansion in North America. Continue reading “Yanmar to buy ASV”
Terex Corporation has agreed to sell its Demag mobile cranes business to Tadano for approximately US$215 million.
The deal, which is subject to regulatory approvals, covers all terrain cranes and large crawler cranes and includes the factory in Zweibrücken, Germany, as well as multiple sales and service locations. The sale is targeted to close in mid-2019. Continue reading “Terex sells Demag to Tadano”
Vehicle transmission and component company Dana Incorporated in the USA has completed the acquisition of Italian electric motor manufacturer SME Group.
Headquartered in Arzignano, SME designs and builds low-voltage AC induction and synchronous motors, inverters, and controls for off-highway vehicles, including material handling, construction and agricultural equipment. Continue reading “Dana acquires SME Group”
As reported in Nikkei Asian Review, Hitachi Construction Machinery has acquired two suppliers of parts and services for mining equipment with operations in the US and Australia, continuing its expansion into the support business amid sluggish demand in its mainstay machinery market.
Bradken has agreed to a takeover bid by Japan’s Hitachi Construction Machinery (HCM) in a deal analysts say may indicate the worst of the mining downturn has passed. Yuichi Tsujimoto, HCM President said his company believes Bradken’s “businesses are complementary with our mining equipment services business. Both companies leveraging each other’s global network will enable us to strengthen our combined businesses and enhance our earnings.” Continue reading “Hitachi Construction Machinery buying Bradken”