Sandvik has announced the ambition to close the Mining Systems transaction during 4Q16. The deal will not be finalised according to the original plan as all conditions for closing have not been met.
The process to exit from the Mining Systems business continues with different interested parties. Mining Systems remains reported as discontinued operations in Sandvik’s financial statements.
”I am disappointed that we have not been able to close the transaction as planned. However, we relentlessly progress to find a solution for our exit from the project business Mining Systems”, commented Björn Rosengren, President and CEO of Sandvik.