- Schenck Process announces the sale of its Mining business to Swedish engineering group Sandvik AB
- Closing expected in the second half of the year, subject to regulatory approvals
With locations in 21 countries, spread over 6 continents, Schenck Process is a global provider of process solutions for mission-critical applications. Schenck Process services a wide range of industries and provides customers with a unique combination of individual products, smart solutions, and deep application know-how.
Schenck Process’s Mining business comprises operations in major mining locations around the world including Australia, South Africa and South America with FY2021 revenues of about €160m and approximately 630 employees.
Once fully integrated into Sandvik Rock Processing Solutions, the Mining business will benefit from a greater global reach combined with Sandvik’s strong technical and commercial depth providing a more attractive customer proposition and broader career opportunities for all mining employees.
Keith Cochrane, CEO Schenck Process Group, commented:
“I am delighted with this outcome for our mining colleagues and customers. Sandvik Rock Processing Solutions is both a natural and excellent new partner for our Mining business creating a stronger platform to build on our recent market success. This transaction will result in a more focused Schenck Process Group to further grow and extend our positions as a global solutions provider for the food, chemical and performance materials as well as the infrastructure & energy markets.”
Anders Svensson, President of Sandvik Sandvik Rock Processing Solutions, commented:
“I am really pleased that we have come to this agreement. Schenck Process Mining range of high-capacity screens and feeders, as well as screening media offering will complement our product offering. Coupled with Schenck Process Mining knowledge and experience in screening applications this will enable us to serve our customers even better and provide complete solutions.”
About Sandvik Group
Sandvik is a global high-tech engineering group offering solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. Sandvik is at the forefront of digitalization and focuses on optimizing customers’ processes. Its world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation, rock processing and advanced materials. In 2021 the Group had approximately 44,000 employees and revenues of about 99 billion SEK in about 150 countries.