Schenck Process, a global company for sustainable, integrated measuring and process technology solutions, has signed an agreement for the sale of its Mining business to Swedish engineering group Sandvik.
Upon completion of the transaction, which is expected to be in the second half of 2022, the acquired mining unit will be integrated into Sandvik’s Rock Processing Solutions business area.
Schenck Process’s Mining business consists of operations in major mining locations around the world including Australia, South Africa and South America with FY2021 revenues of about 160 million euros.
“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,” said Keith Cochrane, CEO of Schenck Process Group.
Once fully integrated into Sandvik Rock Processing Solutions, the Schenck Process 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 630 employees.