DGAP-News: SMT Scharf takes over Canadian mining specialist RDH Mining Equipment

Nachricht vom 07.02.2018 (www.4investors.de) -


DGAP-News: SMT Scharf AG / Key word(s): Strategic Company Decision

SMT Scharf takes over Canadian mining specialist RDH Mining Equipment
07.02.2018 / 18:49


The issuer is solely responsible for the content of this announcement.
SMT Scharf takes over Canadian mining specialist RDH Mining Equipment

Hamm, February 7, 2018 - SMT Scharf AG (WKN 575198, ISIN DE0005751986) has indirectly acquired an interest in 100 percent of the shares in RDH Mining Equipment, based in Alban, Canada, through its wholly-owned subsidiary SMT Scharf Corporation, also based on Alban, Canada. With this acquisition, SMT Scharf AG is further pursuing its corporate strategy and strengthening its market position as an integrated system provider in the underground logistics area. The purchase price amounts to around CAD 8.0 million (corresponding to approximately EUR 5.17 million).

A small proportion of the purchase price will be rendered in treasury shares of SMT Scharf AG, with the rest being paid in cash. For the cash component, SMT Scharf AG had at its disposal funds from the capital increase that SMT Scharf AG successfully realised in November 2017. The CEO of SMT Scharf AG, Hans Joachim Theiss, explains the background to the takeover: "With its portfolio of diesel and electric vehicles for non-coal and salt mining as well as tunnel construction sites, RDH possesses outstanding product expertise in this niche. The takeover forms an ideal augmentation of SMT Scharf's portfolio to include rubber-tire vehicles and gives us an even broader positioning in the market. By aggregating the international sales and after-sales expertise of SMT Scharf with the acquired product program, we can achieve far-reaching synergies in the international hard-rock and tunnel markets, and further boost capacity utilization across our Group."

RDH has specialized in high-quality underground equipment for mining and tunnel construction for more than 30 years and has been especially active in the North American market to date with a revenue share averaging above 50%. Its varied product range extends from jumbo drilling equipment through to so-called load-haul-dump machines (LHDs), scissor lifts and low-loaders. Since 2011, the company has been one of the pioneers in battery-driven non-coal underground mining equipment. With around 50 staff, RDH generated sales of CAD 14.5 million (equivalent to around EUR 9.6 million) in its fiscal year ending April 30, 2017.

"For SMT Scharf as one of the worldwide leading providers of transport solutions and underground logistics systems, the acquisition of RDH Mining Equipment represents an important strategic milestone to further advance our growth. We are convinced the takeover will exert a positive effect on our sales revenue and earnings trends in the current financial year," forecasts Theiss.

Company profile of SMT Scharf
The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. The main products are captivated railway systems that are deployed all over the world, primarily in hard coal mines, but also in mines for gold, platinum and other metals. They are needed to transport material and personnel with payloads of up to 48 tons and on gradients of up to 30 degrees. In addition, the Group supplies the mining sector with chairlifts. The SMT Scharf Group is active with subsidiaries in seven countries, as well as commercial agencies worldwide. SMT Scharf generates a large share of its revenue in growing foreign markets such as China, Russia, Poland and South Africa. SMT Scharf AG has been listed in the Prime Standard (Regulated Market) of the Frankfurt Stock Exchange since 2007.

Contact
Investor Relations
cometis AG
Thorben Burbach
Tel: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-Mail: burbach@cometis.de












07.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:
English
Company:
SMT Scharf AG

Römerstrasse 104

59075 Hamm


Germany
Phone:
+49 2381 960-01
Fax:
+49 2381 960-230
E-mail:
info@smtscharf.com
Internet:
www.smtscharf.com
ISIN:
DE0005751986
WKN:
575198
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

 
End of News
DGAP News Service




652371  07.02.2018 









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