Sandvik completes the acquisition of the mining part of Schenck Process Group

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Nov 01, 2022, 03:15 ET

STOCKHOLM, Nov. 1, 2022 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of the mining related business of Schenck Process Group (SP Mining). SP Mining is one of the market leaders in screening, feeding, screening media and train loading solutions in the industry. The company will be reported in Stationary Crushing and Screening, a division in Sandvik Rock Processing Solutions (SRP).

In 2022 the company expects revenues of about EUR 200 million of which approximately 70% is aftermarket, and an EBITA margin accretive to Sandvik Rock Processing Solutions' margin. Strong synergies are expected to drive revenue growth of mid- to high-single digits above market growth. EV/EBITDA multiple including expected five year run-rate synergies is approximately 10x. Impact on Sandvik's earnings per share will initially be neutral.

Stockholm, November 1, 2022

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 70 782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 70 721 1008.

The following files are available for download:

https://mb.cision.com/Main/208/3658903/1646553.pdf

Sandvik completes the acquisition of the mining part of Schenck Process Group

SOURCE Sandvik