Miners have begun spending in equipment again, the Swedish firm's results show.
Sandvik Mining and Construction Mining News
Sandvik has signed an agreement to divest its Mining Systems operations, reported in the Sandvik income statement as discontinued operations, to the private equity company CoBe Capital.
Product launch and acquisition are the key growth strategies adopted by the leading market players, such as Caterpillar and Komatsu, to strengthen their foothold in the market.
Solving a problem a customer experienced when drilling in abrasive rock conditions has led to a groundbreaking new design for drill bits.
Metso and its peers in a Nordic cluster of mining gear suppliers, including Atlas Corp., Sandvik and FLSmidth have been squeezed by spending cuts among miners in the last three years.
Part of the firm's CH800 series of mining cone crushers, the two models aim to help improve productivity and profitability in the mid-range segment.
The firm is closing several facilities in the U.S. and Europe, as part of a two-year business reorganization set to conclude in the next fiscal.
Study shows the market is expected to grow more than 8% a year through 2017.
Metso's Q3 mining and construction orders fell 19%. Sandvik's net profit fell 22%.
The Mining division, Sandvick’s biggest business unit, was hardest hit area with a 30% decline in orders.
Sandvik AB is announcing more job cuts due to restructuring.
Sandvik Mining and Construction and Flandershave entered a formal partnership to automate surface mining drill rigs and provide autonomous operation.
Swedish engineering firm Sandvik AB (STO:SAND) announced today that 365 employees will lose their jobs as a result of company restructuring. The firm said the cuts resulted from a policy implemented in September at its Materials Technology division whose main objective is to "sustainably reduce the overall cost structure by approximately 500 MSEK over a two to three year period, through such measures as reducing costs for staff and administration..." The layoffs will affect 500 Sandvik employees worldwide including 365 in Sandviken and Hallstahammar, Sweden.
With new specialised geometries, a 1,000 hp rating, greater structural strength and proven technologies, the newly launched CH890 and CH895 are designed to increase performance in both secondary and tertiary/pebble crushing applications, according to Sandvik.
Tool and machinery maker Sandvik's (SAND.ST: Quote) first-quarter operating margin was blown south of analysts' forecasts by currency headwinds, sending its shares down more than 3 percent. The maker of metalworking tools, mining equipment and specialty steels was among the hardest hit in Sweden's engineering sector during the financial crisis, but has since been buoyed by a rapid recovery in demand.
Sandvik Mining and Construction and Shandong Energy Machinery in Xintai, Shandong Province, China, have signed an agreement to form a 50/50 owned joint venture for the production and sales of coal mining equipment. The joint venture is expected to be established within six months, following customary regulatory approvals.
The QI440 is the latest crushing development from Sandvik that combines expertise in the design of track-mounted mobile crushers, with Sandvik’s proven ability to manufacture durable and highly productive impact crushers.
A change in top management at Sandvik Materials Technology will see Jonas Gustavsson replace Peter Gossas as President. Under his current contract with Sandvik, Gossas, President of Sandvik Materials Technology, will retire at the age of […]
During October and November, Sandvik Mining and Construction secured a number of orders for bulk materials handling and continuous mining/crushing systems in South America, Africa and Asia.
Sandvik Materials Technology has decided to establish a strategic partnership with Carpenter Technology Corporation to further strengthen its position in the field of powder technology and advanced materials. Read the full press release
Sandvik Mining and Construction has signed a contract to deliver three AutoMine-LiteTM automation systems and two LH517 loaders to Boliden Mineral’s Garpenberg mine. Read more
Sandvik Mining and Construction has released the LS151, a 6t payload capacity underground coal mining loader. It is the first in a new generation of low-emission Sandvik LS series underground coal loaders, designed and manufactured […]
In June 2009, Sandvik Española – through Sandvik’s dealer for conveyor components, screening media and wear protection products in Catalonia, Comercial Dyser – was contracted to line the Hanson group’s primary hopper with wear protection […]
VANCOUVER, Canada – June 14, 2010 – Gemcom Software International Inc., the largest global supplier of specialised mining productivity solutions, today announced that they have signed a Collaboration Agreement with Sandvik Mining and Construction to […]
Six of Sandvik’s largest CH880 cone crushers are to be installed at the greenfield Trekkopje uranium mine project in Namibia. The order follows the delivery of six similar crushers to the Tati nickel mine in […]