Listen to this article
UFR has developed autonomous systems for multiple industries. Source: Universal Field Robotics
Sandvik AB today said it has acquired Universal Field Robots, or UFR, a developer of autonomous systems for the surface and underground mining markets. UFR will report to Digital Mining Technologies, a division within the Sandvik Mining and Rock Solutions business area.
“Universal Field Robots is an important strategic addition to Sandvik Mining and Rock Solutions, which will strengthen our growth potential and provide key capabilities in the development of our mining automation solutions portfolio going forward,” stated Stefan Widing, president and CEO of Sandvik, when the company first announced its intentions in August.
Stockholm, Sweden-based Sandvik provides technologies for the mining, manufacturing, and infrastructure industries. As of 2023, the company had about 41,000 employees, sales in 170 countries, and revenue of SEK 127 billion ($11.5 billion U.S.).
Universal Field Robots to widen equipment compatibility
Universal Field Robots has approximately 40 employees and is headquartered in Eagle Farm, near Brisbane, Australia. The company‘s systems are built on a common autonomy platform, including OEM-agnostic products for trucks, loaders, and auxiliary equipment.
Sandvik said UFR’s technology complements its own automated offerings. “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 claimed.
The companies said the acquisition will expand the number of third-party equipment types that can integrate with AutoMine.
In the financial year that ended in June 2024, Universal Field Robots generated revenue of approximately SEK 80 million ($7.2 million). Sandvik said the purchase will have a limited effect on its earnings before interest, taxes, and amortization (EBITA) will be limited. It added that the impact on its earnings per share, excluding non-cash amortization effects from business combinations, will be positive.
GIPHY App Key not set. Please check settings