ALBAN, Ont. – SMT Scharf AG of Hamm, Germany, has indirectly acquired a 100% interest in RDH Mining Equipment through a subsidiary based in the same Canadian town. Scharf acquired all of RDH’s common shares for approximately $8 million. A small proportion of the purchase price will be paid in Scharf treasury shares of with the rest being paid in cash.
The Muckmaster 600EB is one of the electric mining vehicles build by RDH Mining Equipment, which was recently acquired by Scharf.
For more than 30 years, RDH has specialized in high quality underground equipment for mining and tunnel construction 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 $14.5 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,” said Scharf CEO Hans Joachim Theiss.
The SMT Scharf Group develops, manufactures and services transportation equipment for underground mining as well as for tunnel construction. Visit www.SmtScharf.com to learn more.