Sandvik acquires Australian company Shark Abrasion Systems
Sandvik has reached an agreement to aquire Shark Abrasion Systems Ltd, a company based in Perth, Australia.
Shark is a market-leading company in development and production of wear parts for underground loader buckets. Currently, Sandvik is the exclusive distributor of these products. Through synergies, the acquisition provides the conditions for continued growth through strengthened research and development and access to Sandvik’s global sales organization.
In 2006, Shark had sales of approximately SEK 70 M (AUD 12 M), with 10 employees. The operation will be consolidated into the Sandvik Mining and Construction business area from 17 January 2007.
“The acquisition is in line with Sandvik’s long-term strategy for profitable growth. Through the acquisition, we intend to develop a global business for these products. In addition, it broadens Sandvik’s offering to the global aftermarket,” says Lars Josefsson, President of Sandvik Mining and Construction.
Sandviken, 17 January 2007
Sandvik AB, (publ)