Sandvik expands in Latin America through the acquisition of MCB Services and Minerals
Sandvik has signed and completed the acquisition of MCB Services and Minerals (“MCB”), a seller of mining software and services and exclusive reseller partner to Deswik in Brazil. MCB, which had revenues of SEK 60 million in 2022, will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions (SMR). Impact on Sandvik's earnings per share will be accretive.
Sandvik acquired Deswik in April 2022, and MCB and Deswik has operated on a joint venture basis in supporting customers across Latin America – primarily in Brazil, but also in Chile, Peru, Argentina and Mexico. Deswik acquired 30% of MCB’s shares in 2019 and the acquisition of the whole company strengthens Deswik’s leading position within the Latin American market. MCB, which trades as Deswik Brazil, brings strong customer relationships with a number of important open pit mines in the region, supporting SMR’s strategic objective to grow within the surface mining segment.
Stockholm, April 3, 2023
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.