Sandvik - Process of Exiting From the Mining Systems Operations Continues

SANDVIKEN, Sweden, Jan 19, 2017 /PRNewswire/ --

Sandvik has earlier announced the ambition to close the Mining Systems transaction during Q4 2016.
The deal will not be finalized according to the original plan as all conditions for closing have not been met.

The process to exit from the Mining Systems business continues with different interested parties. Mining Systems remains reported as discontinued operations in Sandvik's financial statements.

"I am disappointed that we have not been able to close the transaction as planned. However, we relentlessly progress to find a solution for our exit from the project business Mining Systems", says Björn Rosengren, President and CEO of Sandvik.

Stockholm, 19 January 2017

Sandvik AB 

For further information contact:

Ann-Sofie Nordh,
Vice President Investor Relations,
Sandvik AB,
Tel +46 8 456 1494

Pär Altan,
Vice President External Communications,
Sandvik AB,
Tel +46 70 616 2024.

This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 19 January 2017.

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SOURCE Sandvik