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Sandvik expands in South America – acquires leading service company in the mining industry in Chile

Sandvik, through its Mining and Construction business area, has acquired the Chilean Bafco Mineria y Servicios S.A., the leading service company to the underground mining industry in Chile.

Annual sales amount to SEK 85 M, with 180 employees.

Bafco has several strong mining equipment brands, such as Normet and Liebherr, complementing Sandvik Mining and Construction's already broad product offering.

A new company, Sandvik Bafco Servicios S.A., has been formed to carry out all of the business area's service operations in Chile. New equipment sales will be performed through Sandvik Chile S.A. and Bafco Mineria S.A.

"The acquisition is well in line with our strategy to grow in service-related areas and strengthens our position as a preferred partner to our customers in the Chilean mining industry," says Anders Ilstam, President of Sandvik Mining and Construction business area.

Sandviken, 5 June 2001

Sandvik AB; (publ)