- 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
Schenck Process, a global company for sustainable, integrated measuring and process technology solutions, announced today that it has signed an agreement for the sale of its Mining business to Swedish engineering group Sandvik AB. Upon completion, the business will be integrated into Sandvik’s Rock Processing Solutions business area, a leading supplier of equipment, tools, parts, services and solutions for processing rock and minerals in the mining and construction industries. The transaction is expected to complete in the second half of 2022, 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.
About Schenck Process
Schenck Process is a global provider of sustainable products, integrated solutions, and services in mission-critical applications for bulk materials. Headquartered in Darmstadt, Germany, the Group prior to the Mining sale has around 3,100 employees with a presence in over 21 countries across six continents focused on the food and mining markets, alongside chemicals and performance materials, and infrastructure and energy.
The product offering includes solutions for industrial weighing, feeding, conveying, pulverizing and classification, screening, mixing and blending, and associated digital applications.
For further company news and information, please visit www.schenckprocess.com