Sandvik completes the Mining Systems divestment
Sandvik has in line with previous communication now completed the divestments of Mining Systems.
The Mining Systems conveyor components business, including the closely related specialist conveyor systems business in Hollola (Finland), has been divested to NEPEAN.
The Mining Systems project business has been divested to FLSmidth, with the exception of the project business assets in South Africa which awaits merger control clearance. Clearence is expected during the first quarter 2018.
Mining Systems has been reported in discontinued operations and the divested businesses will as of today be deconsolidated from Sandvik’s financial statements. The projects to be finalized during 2017–2019 by Sandvik, through an operational agreement with FLSmidth, will however remain reported in discontinued operations.
The closing of the transactions will have no impact on earnings per share.
Stockholm, 2 November 2017
For further information contact:
Jessica Alm, EVP and Head of Group Communications, Sandvik,
phone +46 8 456 1288
Ann-Sofie Nordh, Vice President Investor Relations, Sandvik,
phone +46 8 456 1494