Sandvik has earlier announced the ambition to close the Mining Systems transaction during Q4 2016. The deal will not be finalized according to the original plan as all conditions for closing have not been met.
The process to exit from the Mining Systems business continues with different interested parties. Mining Systems remains reported as discontinued operations in Sandvik’s financial statements.
”I am disappointed that we have not been able to close the transaction as planned. However, we relentlessly progress to find a solution for our exit from the project business Mining Systems”, says Björn Rosengren, President and CEO of Sandvik.
Stockholm, 19 January 2017
Sandvik AB
Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2015, the Group had approximately 45,000 employees and sales of 86 billion SEK in more than 150 countries within continuing operations.