Sandvik completes acquisition of SHANBAO, Chinese supplier of crushing and screening equipment
Sandvik announced on 21 December 2010 an agreement with the owners of Shanghai Jianshe Luqiao Machinery Co. Ltd. (SJL) to acquire 80 % of the equity interest in the company with the established trademark SHANBAO.
The company has about 1 000 employees and invoicing in 2010 was close to 1 billion SEK.
The acquisition was completed on 9 October 2011 and will be consolidated into Sandvik Mining and Construction as of the same date. The work to integrate the SJL in business area Sandvik Mining and Construction will start immediately.
From 1 January 2012, the SJL will be a part of the new business area, Sandvik Construction.
Sandviken, 11 October 2011
Sandvik Aktiebolag (publ)
Sandvik AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication
at 08.30 CET on 11 October 2011.
For further information contact Thomas Schulz, President Construction Segment, Sandvik Mining and Construction, tel + 65 64776202 or Jan Lissåker, Vice President Investor Relations,
Sandvik AB, tel +46 26 26 10 23.
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. In 2010, the Group had about 47,000 employees and representation in 130 countries, with annual sales of nearly 83,000 MSEK.
Sandvik Mining and Construction is a business area within the Sandvik Group and a leading global supplier of equipment, cemented-carbide tools, service and technical solutions for the excavation and sizing of rock and minerals in the mining and construction industries. Annual sales in 2010 amounted to about 35,200 MSEK, with approximately 15,500 employees.
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