Sandvik exits from the project business in Mining Systems

Sandvik has signed an agreement to sell parts of Mining Systems to FLSmidth.

Mining Systems is a supplier of design and engineering of material handling systems. In 2016 the operations had annual sales of 2.9 billion SEK.

Sandvik’s plan to exit Mining Systems is as follows:

  • The project part of the business related to mining industry is being divested to FLSmidth.
  • Ongoing orders and deliveries related to the non-mining material handling project business  (mainly harbor projects) and some mining projects will be delivered by Sandvik through an operational agreement with FLSmidth. The projects are expected to be finalized during 2017–2019.
  • The divestment process of the Conveyor Components part of Mining Systems is ongoing and proceeds according to plan.

Mining Systems will continue to be reported in discontinued operations. The transaction will have no or limited impact on earnings per share and closing is expected by the end of 2017. The transaction is subject to regulatory approvals.

The intention to divest Mining Systems was first communicated through a press release on 1 October 2015.

For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, tel: +46 8 456 14 94 or  Pär Altan, Vice President External Communications, tel: +46 70 616 20 24.

Stockholm, 12 July 2017  

Sandvik AB

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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.