Mining logistics firm Bis Industries has acquired mining haulage manufacturer Powertrans.
It bought the firm for approximately $30 million, according to The West.
Bis stated that the acquisition will give it ownership of Powertrans dual-powered road train (DPRT) technology, which it has developed in a joint venture with the company.
Powertrans is known for developing innovative mining haulage equipment, and last year created a twin-engine,double- articulated mine truck.
The acquisition came after a fairly extensive due diligence process.
It will fully takeover Powertrans in January.