Sandvik completes establishment of a coal mining equipment joint venture in China
Sandvik announced on 29 April 2011 an agreement with Shandong Energy Machinery Co. in Xintai, Shandong Province, China to form a 50/50 owned joint venture for the production and sales of coal mining equipment. The joint venture will focus on assembly, sales and service of high performing roadheaders for the Chinese underground coal market.
The joint venture Shandong Energy Machinery Group ZhongRui Mining Equipment Manufacturing Co. Ltd was legally established on 12 October 2011 and the work to make the joint venture operational in the beginning of 2012 has started.
From 1 January 2012, the joint venture will be a part of the new business area Sandvik Mining to be in line with the new Sandvik strategy announced on 2 September 2011.
Sandviken, 17 October 2011
Sandvik Aktiebolag (publ)