29 C
Belgrade
Supported byspot_img
spot_img

Sandvik to sell Mining Systems operations to US CoBe Capital

Member of Europium Groupspot_img
Supported byspot_img

Sandvik has signed an agreement to divest its Mining Systems operations to the private equity company CoBe Capital. Sandvik will maintain ownership of on-going projects that are close to completion. The deal is expected to complete during the fourth quarter of 2016. No purchase price has been disclosed.

“Divesting the Mining Systems is an important step in consolidating Sandvik to its core operations, which for Sandvik Mining and Rock Technology is high technology mining equipment and aftermarket offerings,” said Bjorn Rosengren, president and CEO of Sandvik.

Mining Systems is a supplier of design and engineering of material handling systems for the mining industry. In 2015 the Mining Systems operations, with 1100 employees, had annual sales of Euro527m representing 6% of Sandvik Group revenues.
source: globalcement.com

Supported byElevatePR Digital

Related News

Canada Nickel reveals initial resource estimate for Deloro project, underscoring Timmins District prospects

Canada Nickel has announced the initial mineral resource estimate for its Deloro nickel sulphide project, located in Ontario's Timmins-Cochrane mining camp. This estimate marks...

Resouro Strategic Metals unveils extensive resource estimate for Tiros titanium and rare earths project

Resouro Strategic Metals, a recent entrant into Brazil’s rare earths sector, has unveiled a significant resource estimate for its Tiros project located in Minas...

NMMC targets $1 billion investment in 2024 to expand gold production capacity

Navoi Mining and Metallurgical Combine (NMMC), the world’s fourth-largest gold producer and Central Asia’s largest gold miner, has announced an ambitious investment program for...

U.S. and Kazakhstan strengthen energy partnership at 2024 Strategic Dialogue in Astana

On July 18, 2024, the U.S. Department of State and the Department of Energy, in partnership with Kazakhstan’s Ministry of Foreign Affairs and Ministry...
Supported by
Supported by
Supported by
error: Content is protected !!