Sandvik completes the acquisition of DSI Underground
SANDVIKEN, Sweden, July 7, 2021 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of DSI Underground, the global leader in ground support and reinforcement products, systems and solutions for the underground mining and tunneling industries.
In 2020, DSI Underground had revenues of about EUR 516 million (excluding the four joint ventures that are part of the acquisition) and a pro-forma EBIT margin ~200 basis points dilutive to Sandvik Mining and Rock Solutions' margin, including purchase price allocation. The purchase price is approximately EUR 943 million on a cash and debt free basis. Impact on Sandvik's earnings per share will be slightly positive. DSI Underground has around 2,000 employees.
DSI Underground will form its own division within the business area Sandvik Mining and Rock Solutions.
Stockholm, July 7, 2021
Sandvik AB
For further information, contact
Louise Tjeder
Vice President Investor Relations
phone: +46 70 782 6374 or
Johannes Hellström
Press and Media Relations Manager
phone: +46 70 721 1008.
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SOURCE Sandvik
