This article was originally published in Investment Monitor
Hexagon AB has signed an agreement to acquire SAFEmine, a leader in the field of safety solutions. This acquisition strengthens the Hexagon Mining Division and complements established companies, Leica Geosystems Mining and Devex.
SAFEmine provides comprehensive traffic safety solutions for vehicles operating in open pit mines. Built around a compact collision avoidance system, SAFEmine’s technology increases situational awareness and reduces accidents by actively alerting the vehicle operator to imminent threats. The product line includes collision avoidance, driver fatigue monitoring, advanced tracking radar and vehicle information systems. SAFEmine has a global presence, with subsidiaries and local partners around the world and products in use in more than 45 mines worldwide.
"This acquisition is significant for our customers in mining and other sectors that are increasing the use of technologies in order to operate with the highest amount of efficiency while also improving safety conditions," said Ola Rollén, Hexagon president and CEO.
"SAFEmine’s strong presence and technology leadership not only open doors to cross-sell complementary Hexagon offerings to the same market, but create integration opportunities across multiple businesses within Hexagon."
SAFEmine founders Urs Rothacher, Andrea Schlapbach, Urban Maeder, Peter Stegmaier commented: "This is the logical next step in the development of SAFEmine, giving us the flexibility to grow, expand, and to intensify customer contacts. SAFEmine will continue to operate as its own organisation and with its own brand, embedded into the Hexagon Mining Division, working alongside Devex and Leica Geosystems Mining."
SAFEmine was fully consolidated as of 13 March. The acquisition has no significant impact on Hexagon’s earnings. The company’s turnover for 2013 amounted to approximately €13m.
To maintain their strong brand reputation Leica Geosystems Mining, Devex and SAFEmine will continue to operate as separate businesses in the mining market.
"The acquisition of SAFEmine aligns with our strategic vision of offering life of mine measurement solutions, as well as further cross selling capabilities. Hexagon is committed to increasing our global mining market share and growing our technology portfolio. Our customers can expect product integration in the future, including Leica Jigsaw and SAFEmine" said Haydn Roberts, CEO, Leica Geosystems Mining.