Sandvik Intends to Divest Mining Systems Operations

Sandvik plans to sell its Mining Systems business unit, which designs and engineers large material handling systems, such as bucketwheel excavators, stacking/reclaiming systems, conveyors and cross-pit spreaders. “Divestment of Mining Systems will make Sandvik Mining more focused on its core operations, mining equipment and aftermarket offerings for both underground and surface mines, which Sandvik will continue to develop to ensure long-term value creation,” said Mats Backman, CFO and acting president and CEO for Sandvik. The Mining Systems operations, with 1,300 employees, had annual sales of 6.3 billion SEK ($753 million).