SWEDEN – Sandvik has signed an agreement to divest its Mining Systems unit for an undisclosed amount of money to CoBe Capital. Sandvik intends to retain ownership of ongoing projects that are close to completion.
Mining Systems is a supplier of design and engineering of material handling systems for the mining industry. In 2015 the operation had 1,100 employees and annual sales of US$580 million.
Sandvik first reported its intention to divest Mining Systems in October 2015, saying it wanted to be more focused on its core operations, mining equipment and aftermarket services.
Please see http://mining.Sandvik.com/en.