Sandvik Mining and Construction and Shandong Energy Machinery Co. in Xintai, Shandong Province, China, have signed an agreement to form a 50/50 owned joint venture for the production and sales of coal mining equipment.
Sandvik has reached an agreement with the owners of Shanghai Jianshe Luqiao Machinery Co. Ltd. ("SJL" or "the company"), in Shanghai, China, to acquire 80% of the equity interest in the company.