RDH Mining Equipment has joined a larger family, which its management says will mean more opportunities to grow as a company and more markets to expand into. The mining equipment producer announced in a news release Feb. 7 it was acquired by German-based company SMT Scharf for $8 million.
“We were approached by Scharf and they said they were interested in making a deal,” said Neil Edward, chief financial officer for RDH Mining Equipment. “We had visited them in Germany to continue discussions back in October to discuss our two businesses.”
The company is located in Alban, about an hour southeast of Sudbury and supplies mines with mobile equipment. SMT Scharf produces rail transport systems for the mining industry. Continue Reading →