Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Sandvik Venture has acquired the German company TechnoPartner Samtronic GmbH, (TPS), a manufacturer of scattering machines and double belt presses. The company’s core capabilities are reinforced Teflon belt-based double belt press machines. TPS offer consists of new equipment, feed/scattering units and service and spare parts. The acquisition further strengthens Sandvik’s position in the composites segment. In turn, this will strengthen Sandvik’s total customer offering and growth possibilities.
In 2012, TPS had sales of approximately 13 Million EUR, with about 35 employees. The head office and manufacturing facilities is based in Göppingen, Germany.
“The acquisition is in line with Sandvik’s long-term strategy for profitable growth. Through the acquisition, we intend to further develop and strengthen the global business for these products in the composites segment,” says Tomas Nordahl, President of Sandvik Venture.
The acquisition is expected to be completed during the fourth quarter 2013.
