Sandvik to sell Mining Systems operations
Published by Jonathan Rowland,
Editor
World Coal,
Sandvik is to divest its Mining Systems business, which supplies design and engineering services for material handling projects in the mining industry.
“Divestment of Mining Systems will make Sandvik Mining more focused on its core operations, mining equipment and aftermarket offerings for both underground and surface mines,” said Sandvik’s CFO and acting President and CEO, Mats Backman.
Last year, the Mining Systems business achieved annual sales of SEK 6.3 billion – or 7% of total group sales – with an operating loss “as a low singly digit level”, the company said.
The Swedish company also said that it would take a SEK1 billion impairment in its results for 3Q15 relating to Mining Systems.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/mining/01102015/sandvik-to-sell-mining-systems-operations-2943/
You might also like
Coal exit and workforce shortages keep short-term Australian power prices high
Cornwall Insight has reported that the ongoing phase-out of coal facilities and the sluggish progress in launching new renewable energy projects is poised to push Australian electricity prices higher until 2030.