CODAN has acquired Perth-based mining communications solutions maker Minetec.
Codan says Minetec’s activities, which involves designing and manufacturing a range of electronic products and associated software, is closely to its own, which is developing and manufacturing electronic products and distributing them globally.
Minetec’s growth means it requires additional funding, improved processes and assistance to maintain its significant growth rate.
Minetec was established in 2000, employs approximately 50 staff. Its products leverage off a communications infrastructure to improve mine safety and productivity in underground mines. These products include asset tracking, collision avoidance systems and associated software.
While Minetec’s products are different from those offered by Codan’s Radio Communications division, they are based on similar engineering principles and are similar in catering for difficult operating environments.
While Minetec’s revenue is predominantly Australian-based, it is developing relationships with a number of large global miners, and Codan says it will develop the business internationally.