Schenck Process sells mining business to Sandvik AB
Schenck Process has finalized the previously announced sale of its Mining business (SP Mining) to the Swedish engineering group Sandvik AB.
As one of the market leaders in screening, feeding, screening media and train loading solutions with a strong aftermarket business, SP Mining will not only complement Sandvik’s existing product offering but also benefit from a greater global reach. With the closing, the Mining business is to be integrated in the Stationary Crushing and Screening division of Sandvik’s Rock Processing Solutions (SRP) business area.
“Sandvik AB is one of the world’s leading suppliers of equipment, services, and solutions in the area of rock and mineral processing. I am confident that SP Mining has great opportunities for future growth and furthering its potential within the new ownership structure. I would like to thank all the employees of the SP Mining business for their significant contribution to the Schenck Process Group over many years and wish them well and for continued success as part of Sandvik Rock Processing,” says Keith Cochrane, CEO of the Schenck Process Group.
With the sale of the Mining business, Schenck Process will sharpen its portfolio and allow the Group a more focused growth trajectory, cementing its position as a global solutions provider for the Food, Chemicals and Performance Materials industries, as well as Infrastructure and Energy.
About Sandvik Group
Sandvik Group Sandvik is a global, high-tech engineering group providing solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. We are at the forefront of digitalization and focus on optimizing our customers’ processes. Our world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation and rock processing. In 2021 the Group had approximately 39,000 employees and revenues of about 86 billion SEK in about 150 countries within continuing operations.
