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 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 six continents, Schenck Process is a global provider of process solutions for mission-critical applications. The company'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.
“I am delighted with this outcome for our mining colleagues and customers," said Keith Cochrane, CEO Schenck Process Group. "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.”
“I am really pleased that we have come to this agreement,"said Anders Svensson, president of Sandvik Sandvik Rock Processing Solutions. "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.”