Heavy Equipment Guide Logo

This ad will close in 15 seconds

Sandvik acquires supplier of Battery Electric Vehicle solutions

Artisan will be a Business Unit in the Load and Haul Division within Sandvik Mining and Rock Technology.
Artisan will be a Business Unit in the Load and Haul Division within Sandvik Mining and Rock Technology.

Sandvik has acquired privately owned Artisan Vehicle Systems, manufacturer of battery powered underground mining equipment, based in Camarillo, California, USA. The core technology is battery packs, electric motors, power electronics, software and control systems. Artisan's underground mining loaders and trucks are designed with these high-powered, highly reliable and field proven battery electric powertrains. Artisan is the market leader with most battery electric vehicles currently operating in underground mining.

"I am pleased to see the strategic acquisition of Artisan so soon after the opening of Sandvik's state-of-the-art Battery Electrification Innovation and Development Center in Turku, Finland, in 2018. It is in line with our ambition to be leading in the market for Battery Electric Vehicle solutions", says Lars Engström, President, Sandvik Mining and Rock Technology.  

Artisan will be a Business Unit in the Load and Haul Division within Sandvik Mining and Rock Technology.

"The area in which Artisan is located is a frontrunner in electric vehicle development. Our new R&D foothold there will complement the skillset we have in Finland. The combination of know-how and skills creates a very strong platform", says Mats Eriksson, President Load and Haul Division, Sandvik Mining and Rock Technology.

Artisan is a start-up company which in 2017 had revenues of 12.3 million USD and approximately 60 employees.

The parties have agreed not to disclose the purchase price. The transaction is expected to close during the first quarter 2019. The deal is initially neutral to earnings per share.

Company info

Kungsbron 1
Section G, floor 6
SE-111 22 Stockholm,
SE,

Website:
sandvik.com

Read more

More from Industry News

Sponsored Brought to you by: Case Construction Equipment Logo

CASE TR340B Compact Track Loader

The all-new CASE TR340B compact track loader — operating at 90 horsepower with a 3,400-pound rated operating capacity — is the most powerful radial-lift CTL in the CASE lineup. Its all-new 8-inch LCD display improves on industry-leading CASE visibility with a new backup camera that is viewable in both forward and reverse operation. The display also showcases critical operating information and "trip" details. All-new electro-hydraulic controls, managed through the display, make it easier than ever for operators to dial CASE CTLs into specific application demands. All new cab controls and joysticks make the new TR340B easy to own and operate.

Learn more
Sponsored Brought to you by: Globalstar Canada Logo

Opening New Windows into Remote Asset Management and Worker Safety with Satellite Communications

Industries such as construction, mining, energy, utilities and forestry, face many challenges when it comes to tracking assets and employees. Equipment often has to be transferred between locations, or monitored while it is dormant during off seasons. Lone workers may have to travel long distances or visit multiple sites during the course of their activities. And, all of this is further complicated today with shifting supply chains and economic realities putting further strain on the bottom line. 

Learn more

Get our newsletter

Subscribe to our free magazine

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more

Get our newsletter

Subscribe to our free magazine

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more