Sandvik completes the Mining Systems divestment

Sandvik has in line with previous communication now completed the divestments of Mining Systems.

The Mining Systems conveyor components business, including the closely related specialist conveyor systems business in Hollola (Finland), has been divested to NEPEAN.

The Mining Systems project business has been divested to FLSmidth, with the exception of the project business assets in South Africa which awaits merger control clearance. Clearence is expected during the first quarter 2018. 

Mining Systems has been reported in discontinued operations and the divested businesses will as of today be deconsolidated from Sandvik’s financial statements. The projects to be finalized during 2017–2019 by Sandvik, t hrough an operational agreement with FLSmidth, will however remain reported in discontinued operations.

The closing of the transactions will have no impact on earnings per share.

Stockholm, 2 November 2017

Sandvik AB 

For further information contact:
Jessica Alm, EVP and Head of Group Communications, Sandvik, phone   +46 8 456 1288  
Ann-Sofie Nordh, Vice President Investor Relations, Sandvik, phone +46 8 456 1494

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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 2016, the Group had approximately 43,000 employees and sales of 82 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.