Process of exiting from the Mining Systems operations continues

Sandvik has earlier announced the ambition to close the Mining Systems transaction during Q4 2016.
The deal will not be finalized according to the original plan as all conditions for closing have not been met.

The process to exit from the Mining Systems business continues with different interested parties. Mining Systems remains reported as discontinued operations in Sandvik’s financial statements.

”I am disappointed that we have not been able to close the transaction as planned. However, we relentlessly progress to find a solution for our exit from the project business Mining Systems”, says Björn Rosengren, President and CEO of Sandvik.

Stockholm, 19 January 2017

Sandvik AB
 

For further information contact: Ann-Sofie Nordh, Vice President Investor Relations, Sandvik AB, tel +46 8 456 1494 or Pär Altan, Vice President External Communications, Sandvik AB, tel +46 70 616 2024 .

This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 19 January 2017.

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Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2015, the Group had approximately 45,000 employees and sales of 86 billion SEK in more than 150 countries within continuing operations.

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About Us

Sandvik Group Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2016, the Group had approximately 43,000 employees and sales of 82 billion SEK in more than 150 countries within continuing operations.