Tag Archives: Stefan Widing

Sandvik introduces new visual identity inspired by heritage and history

Mining services,

Sandvik has presented a new visual identity that, it says, highlights the company’s commitment to lead the shift towards digitally driven and automated industries.

This new identity is developed to suit the current position of the company as a technology leader enabling improved productivity, efficiency and sustainability for its customers, it said.

Over the past few years, Sandvik has implemented a new strategy and defined a common purpose: “We make the shift – advancing the world through engineering”. This, in combination with fundamental changes like strategic acquisitions and the 2022 listing of business area Sandvik Materials Technology, has reshaped the company and secured a strong foundation for the future, it says.

Stefan Widing, President and CEO of Sandvik, said: “Sandvik has in many aspects become a new company in recent years. We have strengthened our world-leading positions through innovation and strategic acquisitions, and we want to continue to build our technology leadership and keep driving productivity and sustainability gains for our customers. Reflecting this, I am very pleased that we reveal a new, modern brand identity and logotype fit for our purpose and strategy.”

Sandvik is on a path of transformation, building what it says is a unique position combining hardware with software and digital solutions in the mining, manufacturing and infrastructure industries, with solutions improving sustainability and productivity for customers on a global scale. A crucial part of this is a focus on collaboration and co-creation to deliver these cutting-edge solutions.

The updated brand identity represents this new, modern Sandvik, and rests on three core elements – proactive partnerships, forward-thinking solutions and sustainable progress. The logo is inspired by the 1962 Sandvik logo and is a tribute to the company heritage and history. A new symbol is also introduced, intended as the key bearer of the Sandvik brand and the mark of the corporate purpose. It represents “progress” and “circularity”, visually summarising the commitment of Sandvik to advance the world through engineering, the company says.

Sandvik to pair Polymathian portfolio with Deswik solutions for ‘unique’ combination

Equipment maintenance, Mining equipment, Mining mergers and acquisitions, Mining services, Mining software, , , , , , ,

Sandvik has signed an agreement to acquire Polymathian Industrial Mathematics, an Australia-based provider of advanced mine optimisation software and services.

Polymathian will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions (SMR), Sandvik says.

Polymathian’s solutions for automated decision making and process optimisation complements the offering of Deswik, a leading mine planning software company which Sandvik acquired in April, the company added. Its product offering includes mining operations optimisation and simulation software for areas such as extraction process, material flow, energy and fuel consumption, and maintenance efficiency. It counts several of the world’s largest mining companies as customers.

Stefan Widing, President and CEO of Sandvik, said: “With the acquisition of Polymathian we continue to broaden our offering to enhance productivity in our mining customers’ value chain. Polymathian’s automated decision making and process optimisation, together with Deswik’s software tools for planning and managing production, represent a unique combination in the market.”

Polymathian will be a part of Business Unit Deswik and remain OEM agnostic, according to Sandvik.

The acquisition will enable Sandvik to further accelerate the development of its end-to-end optimisation, battery-electric vehicle (BEV) and AutoMine® offerings, by leveraging Polymathian’s unique skillset and platform, it added.

Mats Eriksson, President of Sandvik Mining and Rock Solutions, said: “Polymathian is a great addition to Sandvik Mining and Rock Solutions, and enables SMR to now have a unique digital portfolio that will help our customers to optimise their data-driven operations across the value chain and ensure their mine design is fully compatible with technologies like AutoMine and BEVs. I am very pleased to welcome Polymathian to the Group.”

Polymathian was founded in 2013, has 50 employees and is headquartered in Brisbane, Australia. The company’s annual revenues per June 2022 were around SEK100 million ($9.6 million). The transaction is expected to close during the March quarter of 2023.

Sandvik to deliver ‘biggest BEV fleet to date’ for Foran’s McIlvenna Bay

Automation, Base metals, Energy minerals, Environmental, Mineral project development, Mining equipment, Mining services, Power supply for mines, Sustainable mining, , , , , , , , , , , , , , , , , , , , ,

Foran Mining has selected Sandvik Mining and Rock Solutions to supply a fleet of 20 battery-electric vehicles (BEVs), including trucks, loaders and drills, for its McIlvenna Bay project in Saskatchewan, Canada.

Set to be one of the world’s first carbon-neutral copper development projects, McIlvenna Bay will be powered by clean hydroelectric power and designed to take advantage of Sandvik’s latest technological advances in sustainable mining, the OEM says.

Sandvik’s biggest BEV fleet to date will include seven Sandvik 18-t-payload LH518B loaders (pictured dumping into a TH550B), six Sandvik 50-t-payload TH550B trucks, four Sandvik DD422iE jumbo drill rigs, two Sandvik DL422iE longhole drills and one Sandvik DS412iE mechanical bolter. Delivery of the equipment is scheduled to begin next year and continue into 2025, Sandvik says.

Sandvik will also provide on-site service support and Battery as a Service by Sandvik at the underground copper-zinc mining project located in east-central Saskatchewan.

Jakob Rutqvist, VP Strategy and Commercial for Sandvik Mining and Rock Solutions’ Battery and Hybrid Electric Vehicles (BHEV) Business Unit, said: “This record contract is the culmination of a year-long collaborative effort between Foran Mining and Sandvik and demonstrates a shared vision that electrification will drive the future of sustainable mining. BEVs have enormous potential to reduce a mining operation’s carbon footprint, and Canada continues to be the epicentre for mining electrification and a blueprint for what to expect in other major mining regions very soon.”

Copper and zinc are critical metals for the transition to a low-carbon future as essential elements of electrical grids, solar panels, wind turbines and batteries. The McIlvenna Bay project intends to supply those minerals in a way that will not only be carbon neutral but ultimately have a net positive impact on the climate, according to Sandvik.

Dave Bernier, Chief Operating Officer of Foran Mining, said: “This is a very exciting period for Foran as we continue to execute on our initiatives to permit, construct and operate McIlvenna Bay. Sandvik is a global leader in industrial battery technology and we look forward to working together on our project. Utilising battery-electric equipment with semi- and fully-autonomous capabilities can help us achieve carbon neutral targets and provide a safer working environment, which is part of our Net Positive Business strategy as we look to deliver critical metals essential for global decarbonisation in a responsible and socially-empowering way.”

Foran Mining conducted a thorough analysis during its 2020 prefeasibility study to determine the investment case for BEVs compared with diesel. The company determined that BEVs would deliver better financial results at McIlvenna Bay when considering the savings generated through lower ventilation capital and operating costs.

That report, authored by AGP Mining Consultants Inc, envisaged the potential use of 7 Sandvik LH517i LHDs and 11 Artisan Vehicles (Sandvik) Z50 battery electric trucks for a 3,600 t/d of polymetallic ore operation.

Stefan Widing, President and CEO of Sandvik, said: “I am very pleased that Foran Mining has chosen Sandvik to deliver our leading battery-electric solutions for the pioneering McIlvenna Bay project. We see very strong momentum for our mining electrification offering, which offers great potential in driving more sustainable mining, helping customers to boost productivity, reduce greenhouse gas emissions and improve workers’ health.”

A dedicated on-site project team will be jointly working with the mine’s operations team to ensure the products and services in the delivery scope support the alliance on Foran’s journey towards more productive, efficient and sustainable mining, Sandvik said.

“Battery as a Service by Sandvik will enable McIlvenna Bay to get the most out of its battery-electric equipment by relying on unrivaled expertise to manage the capacity and health of batteries and chargers throughout their long lives,” it added.

Sandvik to acquire Deswik and form new Digital Mining Technologies division

Automation, IoT, Mining equipment, Mining mergers and acquisitions, Mining software, Sustainable mining, , , , , , , ,

Sandvik has signed an agreement to acquire Deswik, a provider of mine planning software, with plans for the Australia-based company to be part of a newly formed Digital Mining Technologies division within the Sandvik Mining and Rock Solutions business area. 

By acquiring Deswik, Sandvik gains a top-tier supplier of integrated software platforms that, it says, support digitalisation throughout mine planning stages, with more than 10,000 current licences.

Deswik has a high quality customer base, and its strong profitable growth and low customer churn will further enhance Sandvik’s presence within software and digitalisation, and help accelerate growth, the company added.

“I am very pleased that we continue to execute on our shift to growth strategy, and continue to broaden our offering with digital solutions that increase productivity in the customer’s value chain,” Stefan Widing, President and CEO of Sandvik, said. “Mine planning and operations management is a key growth opportunity, and this complementary acquisition and our new Digital Mining Technologies division will strengthen our digital offering and enable us to provide customers a more comprehensive suite of technologies.”

Deswik will fill a value chain gap in Sandvik Mining and Rock Solutions’ offering, increasing upstream mining coverage and enabling opportunities for end-to-end optimisation solutions, including, for example, incorporating electrification at the mine planning stage, the company explained. Its core software suite includes computer-aided 3D mine design, scheduling, operations planning, mining data management and geological mapping. Deswik also offers a range of consultancy services, including mine planning, scoping, software implementation and training support.

Henrik Ager, President of Sandvik Mining and Rock Solutions, added: “Deswik’s second-to-none software suite combined with Sandvik’s digital and automation offering creates a clear world leader in digital solutions for the mining industry. Combining Deswik’s skills in mine planning and scheduling with our equipment and automation expertise will open new opportunities for optimising our customers’ mining value chain.” 

Deswik will form one of three cornerstones in the newly–created Digital Mining Technologies division, established to, the company says, accelerate the execution of Sandvik Mining and Rock Solutions’ strategic priority to lead the industry development of underground sustainability and productivity solutions in electrification, automation, digitalisation and end-to-end optimisation. The new division also includes Sandvik Mining and Rock Solutions automation solutions and the Newtrax telemetry and collision avoidance solutions.

Privately-owned Deswik, established in 2008 and headquartered in Brisbane, has approximately 300 employees and operates 14 offices in 10 countries. Deswik’s revenue as of October 2021, on a rolling 12-month basis, totalled A$79 million ($56 million), of which the share of recurring revenue was approximately 45%, and with an EBITA margin of approximately 30%.

The transaction is expected to close during the March quarter of 2022, subject to relevant regulatory approvals. Sandvik estimates that transaction costs of approximately SEK50 million ($5.5 million) in total will impact Sandvik Mining and Rock Solutions in the December quarter.

Sandvik reinforces underground mining safety focus with DSI Underground buy

Mining consumables, Mining equipment, Mining mergers and acquisitions, Mining services, , , , , ,

Sandvik has signed an agreement to acquire DSI Underground, a global leader in ground support and reinforcement products, systems and solutions for the underground mining and tunneling industries, from owner Triton.

The OEM has agreed a purchase price of approximately €943 million ($1.15 million) on a cash and debt free basis, it said, adding that the company will be reported in the Sandvik Mining and Rock Solutions division.

Stefan Widing, President and CEO of Sandvik, said: “This acquisition is an important step in our growth ambition. DSI Underground’s track record of driving progress and safety in underground operations and its global reach will further strengthen our world-leading market position within mining and rock solutions.”

DSI Underground is present in 70 countries, with 22 production units situated close to end customers, according to Sandvik. The product offering includes bolting systems, injection chemicals and resin capsules.

Henrik Ager, President of Sandvik Mining and Rock Solutions, added: “With the world’s most extensive choice of ground support products and systems, DSI Underground’s offering is highly complementary and enables us to deliver greater value and safety to our customers. The deal gives DSI Underground access to Sandvik’s substantial R&D, global service and sales network, complements our growing aftermarket business and strengthens our leadership in underground mining and tunnelling.”

Michael Reich, CEO DSI Underground, said: “With our knowledge of ground support technologies, we can add a valuable and complementary offering to Sandvik Mining and Rock Solutions. On the other hand, we will benefit from the knowledge of the new group and Sandvik’s global customer network.”

DSI Underground has around 2,000 employees, with revenue for 2020 expected to be about €518 million ($631 million, excluding the four joint ventures that are part of the acquisition). The purchase price is approximately €943 million on a cash and debt free basis.

The transaction is expected to close by mid-2021 and is subject to relevant regulatory approvals.

Sandvik enters LKAB-led SUM project as Volvo Group departs

Automation, Communications in mining, Environmental, IoT, Mineral project development, Mining equipment, Mining services, Mining software, Power supply for mines, Sustainable mining, , , , , , , , , , , , , , , , , ,

Sandvik has joined the Sustainable Underground Mining (SUM) project being run by LKAB at the same time as the Volvo Group has exited the Sweden-based collaboration.

The moves come as the iron ore miner looks to “further strengthen a joint endeavour towards sustainable underground mining at great depths”, it said.

To develop the digitalised, autonomous and carbon-dioxide-free mine of the future, in collaboration with other globally leading Swedish companies, LKAB initiated SUM in 2018.

After 2030, LKAB must be ready to mine iron ore deeper in the mines in Kiruna and Malmberget, in northern Sweden. For this, one of Sweden’s biggest industrial investments ever, decisions will have to be taken in the mid-2020s.

“This type of strategic collaboration project is very complex, each company contributes its specific expertise, and the partners will link together both digital systems and operations,” LKAB says. “Providing unique possibilities for SUM, the test mine, Konsuln, in Kiruna will serve as a real mine environment where technology, machines and working methods will be tested.”

Sandvik will be joining LKAB, Epiroc, ABB and Combitech in trying to achieve this goal. The Volvo Group’s earlier partnership in SUM will now take the form of other collaboration with LKAB, the miner said.

Jan Moström, President and CEO of LKAB, said: “In the coming years, LKAB must have a solution in place to be able to mine iron ore at depths approaching or exceeding 2,000 m in a cost-effective way by employing technology that is safe, autonomous, electrified, digitalised and carbon-dioxide-free.

“To enable this, collaboration with other leading industrial companies will be decisive. Sandvik’s longstanding experience of producing underground vehicle systems will complement the ongoing work in an important way.”

Stefan Widing, President and CEO Sandvik, said: “LKAB has used automated equipment from Sandvik for many years and we look forward to the opportunity to extend our collaboration and introduce new and advanced solutions that will set an industry standard.”

Epiroc and Sandvik will be relied on for battery-powered, autonomous and efficient mining equipment and related solutions that will ensure improved productivity and safety in LKAB’s mines. ABB’s role is to contribute knowledge and solutions for electrification, automation, service and maintenance. Combitech, meanwhile, will bring broad expertise and experience when it comes to connecting autonomous processes and people via so-called digital ecosystems.

LKAB says significant progress has been made on the project to date, including:

  • Successful establishment of the test mine, Konsuln, in Kiruna, where testing is carried out in a real mine environment;
  • An integration and collaboration platform, ‘LOMI’ (LKAB Open Mine Integrator) has been developed to enable an open systems architecture whereby all partners can develop modules and solutions that work together;
  • ABB has delivered ABB Ability System 800xA, the control-room console Extended Operation Workplace and a “Collaboration table” for visualising key functions and key figures in the mine, allowing the operator to monitor and control equipment in the best, most sustainable way. The ambition is that everything that is done in the test mine can be approved, planned and controlled via a project office at surface level, so that underground work can be done more efficiently;
  • Epiroc has delivered the drill rig Easer L and Scooptram ST18 LHD, both equipped for automation functionality, for the test mine, and operators and service personnel have been trained. The Easer L, commissioned in 2019, has shown good results in drilling over 50-m-long holes in the test mine, which is an important step for planning the future mine layout. For the loader, during Autumn 2020, the plan is to conduct tests with increasing complexity in terms of automation and interoperability; and
  • Combitech has delivered new solutions for systems platforms on an ongoing basis together with LKAB’s IT department. The aim is to synchronise new technology with existing systems.

In March 2020, the “Testbed for integrated, efficient and carbon-dioxide-free mining systems”, a part of SUM, received funding amounting to 207 million Swedish kronor ($23 million) from the Swedish Energy Agency.

Sandvik cuts work hours, temps/consultants, spend on COVID-19 concerns

Mining equipment, Mining events, Mining finance, Mining industry recognition, Mining services, , , ,

With the COVID-19 virus continuing to affect business operating conditions, Sandvik says it has initiated measures to support savings both in the short and long-term.

The initial focus is on short-term activities with quick impact such as reduced worktime, reduction of temporary employees and consultants, and reduced discretionary spend, it said. Structural changes and reductions in work force to adapt to changed market conditions in the longer term are, in addition, being reviewed.

While the company said business development during January and February 2020 had been in line with its expectations – with the exception of China where the COVID-19 situation led to one week of prolonged closing of its operations around the Chinese New Year (the operations are now up and running and approaching normal capacity) – during March, the uncertainty has gradually increased in many other parts of the world, it explained.

“Most production units in the Sandvik Group have been able to continue operating, however due to government restrictions the production is currently on hold in Italy, India and partially in other regions,” Sandvik said.

“Although Sandvik currently believes that the direct impact on its financial performance during the first (March) quarter will be limited, Sandvik has identified a need to mitigate future effects on our businesses from the rapid spread of the coronavirus.”

The “temporary short-term actions” primarily related to reduced working hours, will generate savings of about SEK1.5 billion ($147 million) in 2020. The initiation of long-term “structural measures” imply costs of about SEK1.4 billion reported as items affecting comparability in the operating profit in the June quarter of 2020, with the majority impacting cash flow, Sandvik added. It expected savings of about SEK900 million from these long-term structural measures, which will reach full annual run-rate by the end of 2021, though.

Sandvik said: “Actions to reduce worktime will mean a temporary negative effect on the compensation for many employees. The members of the Sandvik Group Executive Management have therefore also decided to reduce their salary by 10% during this period.”

On top of this, the Sandvik Board of Directors proposes that the Annual General Meeting resolve on a dividend of SEK3/share, compared with the previous proposal of SEK4.50/share.

“It is the Board of Directors’ intention to convene an Extraordinary General Meeting before the end of October this year to resolve on an extra dividend of SEK1.50, assuming that the market has stabilised and the financial position of the company so permits.”

Stefan Widing, who only took up the role of President and CEO of Sandvik on February 1, said the COVID-19 situation had escalated around the world and the company had to adapt to this “dramatic change in global business conditions”.

He said: “Divisions within all three business areas are taking prompt action in order to secure our long-term market leading positions and protect our company.”