ZYFRA Group Expands in the Intelligent Mining Market

ZYFRA Group, AI and IIoT solutions developer for industries is acquiring VIST Group, one of the industrial leaders in development and implementation of technologies for digital mining for $30 million. Through acquisition of this asset the company is planning to occupy a significant share of global intelligent mining market.

Click Image to Enlarge
mining

- Via several acquisitions and organic business growth, we are absolutely on track to reach our $30m sales target for 2018 as part of our wider strategy to become a leading integrated digital industrial solutions vendor, said Igor Bogachev, ZYFRA Oy CEO.

With acquisition of VIST Group, ZYFRA has broadened its international footprint and will now operate Belorussia, Mongolia and Morocco as well. It is also planning to expand into Vietnam, Indonesia and Chile in 2019 and in South Africa in 2020.

 On top of international expansion, the company is firing on all cylinders to complete its “Intelligent mine” project – a complex solution for unmanned surface mining with application of self-driving vehicles. VIST Group is planning to spend a material share of investment provided by ZYFRA to accelerate its R&D projects including self-driving vehicles, automated surface mining machines (robots) and appliances, broader IoT and AI based solutions application as well as predictive analytics.

- There is a request from the market - industrial giants are looking for the options to improve the entire production chain efficiency, not its separate elements. I believe that technological synergy of the two companies will significantly boost commercial and innovation potential of our solutions in respond to this request, noted Dmitry Vladimirov, VIST Group CEO.

- Our view is that there’s a tremendous opportunity for disruption in Industrial IoT and applied AI space, although it is still a nascent market to a larger extent – said Ilia Kreisel, Investment and IR Director at ZYFRA Group.

- If you look at Gartner latest Magic Quadrant for IIoT platforms, you can quickly arrive at the conclusion that the market still lacks a clear leader, which leaves the doors wide open for the up and coming challengers like ourselves.

New Resources through Acquisition

Global market for digital mining solutions will reach $23 billion by 2024. It is expected that over 35 percent of global mining companies will increase their investments in digital solutions and AI technology. After the acquisition deal with ZYFRA, VIST Group is gaining new resources to compete with market players like Caterpillar, Hitachi, Komatsu and Hexagon Mining.

ZYFRA is applying cutting edge data science combined with industrial expertise to provide end-to-end solutions for optimizing production speed, quality, and costs for industries such as machinery, metallurgy, oil and gas and mining. The company, founded in November 2017, currently operates in Finland, China, Russia, Bulgaria and India.

Applications | 23.11.2018

Latest articles

Collaboration Between Gasum and Tampere Regional Solid Waste Management to Boost the Use of Biogas in Transport

Gasum and Tampere Regional Solid Waste Management have signed an agreement under which biogas produced at a new biogas plant constructed in Koukkujärvi, Nokia, Finland, will be sold to Gasum. The deal strengthens the use of biogas in transport and is a good example of regional circular economy.

HSE | 12.4.2019

Dispelling the Legends of Maintenance Management

There are many legends surrounding maintenance management in plants. Often, the legends aren’t true, but people live with them because it is simply convenient or so ingrained that they don’t even realize it’s a legend. Plants must break the legends that exist in their organizations to gain improvements in equipment reliability and maintenance management. Some of the legends will be addressed in this article. You might become uncomfortable when you realize some of the legends are embedded in your organization.

Asset Management | 27.3.2019

Implementing RCM? 5 Mistakes You Need to Avoid

If you are considering to employ  RCM analysis  at your facility, it means you have recognized the need for a change in your maintenance strategies. Reliability-centered maintenance is an excellent way to keep your plant or machinery up and running by helping you choose the optimal maintenance strategy for all of your important assets. 

Cmms | 19.3.2019

Wärtsilä successfully tests remote guidance service capabilities

Technology group Wärtsilä has successfully tested its remote guidance service, thereby creating an entirely new dimension in vessel repair and maintenance operations.

Applications | 15.3.2019

Save Energy in Steam and Condensate Systems

The oldest paper mill still operating in Germany detects defective steam traps with digital ultrasonic testing technology

Partner Articles | 15.3.2019

Time to Invest in Europe’s Water Infrastructure

THE WATER AND SANITATION sector is an important part of the European economy. It represents more than 500,000 people directly employed in water and sewerage companies, operating thousands of facilities and several million kilometres of networks.

Editorial | 14.3.2019

Digital Line of Sight

Will a Digital Twin Become a Key Element of Your Digitalization Strategy to Reduce Risk and Enable Operational Excellence?

R&D | 14.3.2019

Maintenance: A Necessary and Important Function in the Future

Euromaintenance 2016 will take place in Athens at the end of May. It is the ideal moment to reflect on maintenance in a European context. Euromaintenance is known as the summit for all involved in maintenance across Europe, it’s the place to be. The conference, with the support of the EFNMS, is the only commercially independent conference covering the topics we deal with in the maintenance world.

EFNMS | 20.5.2016