first announced its intention to divest the business late last year.<\/a><\/p>\n\u201cDivesting 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,\u201d Bj\u00f6rn Rosengren, Sandvik\u2019s CEO, said.<\/p>\n
According to a Sandvik spokesperson the only Australian operations to be affected is the Bayswater facility, in Perth, which produces conveyor pulleys, rollers, and frames for mining.<\/span><\/p>\nThe sale valuation has not been disclosed, however it is understood Sandvik will incur a capital loss of 800 million Krona ($123 million) in the third quarter of 2016.<\/p>\n
This loss includes a negative cash flow position of 600 million Krona ($92.5 million) from the removal of the division.<\/p>\n
The Mining Systems division designs, engineers, and supplies materials handling systems or the resources industry, and employed 1100 workers globally, and had sales of 5 billion Krona ($771 million), accounting for six per cent of Sandvik\u2019s revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sandvik has announced it will divest its Mining Systems division to private equity firm CoBe Capital. The group first announced its intention to divest the business late last year. \u201cDivesting 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 … Continue reading “Sandvik divest mining materials handling division”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6],"tags":[],"class_list":["post-1670","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-qW","jetpack-related-posts":[{"id":990,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/10\/05\/sandvik-to-divest-materials-handling-division\/","url_meta":{"origin":1670,"position":0},"title":"Sandvik to divest materials handling division","author":"yinghui","date":"October 5, 2015","format":false,"excerpt":"Sandvik has announced its intention to divest its Mining Systems division. This product area, which sits within Sandvik Mining, covers the supply, design, and engineering of materials handling systems for the resources industry. \"Divestment of Mining Systems will make Sandvik Mining more focused on its core operations, mining equipment and\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1305,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/03\/18\/sandvik-forms-new-mining-division\/","url_meta":{"origin":1670,"position":1},"title":"Sandvik forms new mining division","author":"yinghui","date":"March 18, 2016","format":false,"excerpt":"Sandvik has unveiled a new business division, Sandvik Mining and Rock Technology. The division was formed through the merging of the Sandvik Mining and Sandvik Construction divisions. According to Sandvik, the new division \u201cwill be organised in a de-centralised business model with separate product areas based on the product offering\u201d.\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":824,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/02\/05\/sandvik-to-close-wollongong-operations\/","url_meta":{"origin":1670,"position":2},"title":"Sandvik to close Wollongong operations","author":"yinghui","date":"February 5, 2015","format":false,"excerpt":"Sandvik has announced it will close its Wollongong operations and reduce its Kalgoorlie site in the wake of continuing mining uncertainty. As a result of the shutdown Sandvik will now focus on field service in the Illawarra, while its Kalgoorlie site will now operate as a field service division, warehouse,\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"wollongong_300","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/02\/wollongong_300.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":710,"url":"https:\/\/yinghuiinternational.com\/index.php\/2014\/12\/17\/sandvik-and-downer-join-forces-on-service-solutions-for-mining-materials-handling-projects\/","url_meta":{"origin":1670,"position":3},"title":"Sandvik and Downer join forces on service solutions for mining materials handling projects","author":"yinghui","date":"December 17, 2014","format":false,"excerpt":"Sandvik Mining Systems is partnering with Downer EDI Limited (Downer) to offer high-level field service and maintenance solutions for mining materials handling projects around Australia. The memorandum of agreement (MOA) will enable Sandvik to engage Downer to carry out any maintenance work on Sandvik mining equipment operating on its customer\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2650,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/03\/01\/flsmidth-completes-acquisition-of-sandvik-mining-systems-projects-business\/","url_meta":{"origin":1670,"position":4},"title":"FLSmidth completes acquisition of Sandvik Mining Systems projects business","author":"yinghui","date":"March 1, 2018","format":false,"excerpt":"With the transfer of assets in South Africa now completed, the previously announced acquisition of the Sandvik Mining Systems projects business has been finalised. The acquisition includes continuous surface mining and minerals handling technologies and competences that strengthen the company\u2019s core minerals business. By integrating the mining systems projects business\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8397,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/29\/schenck-process-mining-to-become-sandvik\/","url_meta":{"origin":1670,"position":5},"title":"Schenck Process Mining to become Sandvik","author":"yinghui","date":"August 29, 2023","format":false,"excerpt":"ALEXANDRA EASTWOOD The next step in the integration of SP Mining (the mining related business of Schenck Process acquired by global, high-tech engineering group Sandvik), will see SP mining entities change their names to reflect the new ownership. On the October 1, Schenck Process Australia Pty Limited, which became a\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-29-at-9.31.53-am-1024x575.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-29-at-9.31.53-am-1024x575.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-29-at-9.31.53-am-1024x575.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-29-at-9.31.53-am-1024x575.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/comments?post=1670"}],"version-history":[{"count":1,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1670\/revisions"}],"predecessor-version":[{"id":1671,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1670\/revisions\/1671"}],"wp:attachment":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/media?parent=1670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/categories?post=1670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/tags?post=1670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}