24 Aug 2022
NIB co-finances Sandvik’s acquisition of mine planning software provider Deswik
NIB has signed an eight-year EUR 150 million loan agreement with Sandvik Treasury AB (Sandvik). The loan will finance part of Sandvik’s acquisition of Australian-based company Deswik, which provides digital solutions for the mining industry.
Deswik offers integrated software platforms that includes computer aided 3D mine design, scheduling, operations planning, mining data management, and geological mapping. Combining Deswik’s software with Sandvik’s expertise in automation and electrification of mines, gives Sandvik the possibility to offer a complete mining platform to its clients. With the investment loan, NIB can support Sandvik’s growth strategy to move upstream in the mining value chain and increase its digital product offering.
Sandvik announced early April that the acquisition of Deswik had been completed. Deswik is part of Sandvik’s newly formed division Digital Mining Technologies within the business area Sandvik Mining and Rock Solutions. Deswik was established in 2008 and is headquartered in Brisbane, Australia. It has approximately 300 employees and operates 14 offices in 10 countries.
Sandvik is a global high-tech engineering group with some 44 000 employees, sales in 150 countries and headquarters in Stockholm, Sweden. Sandvik serves clients in the mining, infrastructure and manufacturing industries with a world-leading offering that includes equipment, tools, services and digital solutions for machining, mining, rock excavation, rock processing, as well as advanced materials.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
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