Sandvik and Chinese mining equipment supplier form joint venture

Sandvik Mining and Construction and Shandong Energy Machinery Co. in Xintai, Shandong Province, China, have signed an agreement to form a 50/50 owned joint venture for the production and sales of coal mining equipment. The joint venture is expected to be established within 6 months, following customary regulatory approvals. It is planned to be operational by the end of 2011 and will be fully consolidated in the Sandvik reporting. One of the business focuses of Shandong Energy Machinery is to design and manufacture equipment for the Chinese underground coal mining market. It is a