Displaying items by tag: Sandvik

Germany: Schenck Process’ first-quarter sales increased by 21% year-on-year to Euro187m in 2022, led by an ‘outstanding performance’ in its Americas region, according to the company. The company’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the quarter were Euro20m, up by 9.3% year-on-year. Schenck Process said that it experienced synergy effects from its acquisition of Thailand-based material processing and packaging company SHAPE and agreed to sell its mining business to Sweden-based Sandvik. It said that a Euro598m order book ensures its ‘continued business momentum’ throughout the remaining quarters of 2022.

Chief executive officer Keith Cochrane said “We continued to demonstrate the resilience of our business by delivering another strong performance in the first quarter of 2022. The disposal of our mining business will enable us to advance a more focused strategy for our other core businesses and strengthen our positions as a global solutions provider for the food, chemical and performance materials as well as the infrastructure and energy markets. Despite a difficult global environment, we are looking forward to a period of further growth building on our recent successes.”

Sweden: Sandvik says that it will launch Sandvik Rock Processing Solutions in on 1 January 2021. The new business area will consist of its current Crushing and Screening division, which is part of the Sandvik Mining and Rock Technology business area at present. It said the reason for the restructure was “to accelerate profitable growth.”

Chief executive officer (CEO) Stefan Widing says, “Sandvik is market leading within rock processing, and our Crushing and Screening division is a well-performing business with exciting growth opportunities, operating quite independently, with its own manufacturing, sourcing and aftermarket. By establishing Rock Processing Solutions as a business area we will improve transparency and strengthen our growth ambitions within the area."

Sweden: Sandvik has appointed Henrik Ager as president of its Sandvik Mining and Rock Technology division and a member of the Sandvik Group executive management with effect from 1 April 2019. He succeeds Lars Engström, who will leave Sandvik.

Ager holds over 16 years of experience in the minding industry with positions held in South Africa, Australia, South America and India. He is currently the president for the Rock Tools division in Sandvik. Prior to this, he was the president for the Global Equipment division and Vice President for Strategy within Sandvik Mining and Rock Technology. He also worked for McKinsey and Ericsson.

Sweden: Lars Engström, the president of Sandvik Mining and Rock Technology, has announced his plans to leave Sandvik during 2019 after the appointment of a successor. Engström has been a member of Sandvik Group’s Executive Management and led the Business Area Sandvik Mining and Rock Technology since 2016.

Sweden: Sandvik has completed the sale of its Sandvik Process Systems division to asset management company FAM AB. The divestment has agreed for around Euro500m in June 2017. Sandvik Process Systems manufactures industrial process solutions based on steel belts, steel belt based equipment and process solutions within adjacent technologies.

Sweden: Sandvik has appointed Göran Björkman as its new president of business area Sandvik Materials Technology and member of the Sandvik Group Executive Management Team. He succeeds Petra Einarsson, who is leaving the company for an external assignment. The change is effective from 1 November 2017.

Björkman, aged 51 years, has been with the company since 1990, of which almost 20 years has been spent at the materials technology operations. Most recently he has held the position as Vice President Production at Sandvik Coromant and Vice President Production Strategy, Sandvik Machining Solutions.

Sweden: Sandvik has been affected by the WannaCry computer virus. The engineering company said that the ransonware worm had hit its office and production environment on 12 May 2017. The company has focused on mapping the impact and executing recovery measures. It expects to deliver on customer commitments as planned and no major financial impact is currently expected.

Sweden: Sandvik’s Rock and Mining division’s revenue has fallen by 3% year-on-year to Euro3.30bn in 2016 from Euro3.52bn in 2015. Its order intake also fell slightly to Euro3.38bn although it says it rose slightly if currency variations throughout the year are taken into account. Notably, its order intake rose sharply by 19% year-on-year to Euro970m in the fourth quarter of 2016. Its operating profit for 2016 rose by 33% to Euro430m. Overall the engineering company has reported slight declines in revenue and order intake across all of its businesses although this has picked up in the fourth quarter of 2016.

Sweden: Sandvik has signed an agreement to divest its Mining Systems operations to the private equity company CoBe Capital. Sandvik will maintain ownership of on-going projects that are close to completion. The deal is expected to complete during the fourth quarter of 2016. No purchase price has been disclosed.

“Divesting the Mining Systems is an important step in consolidating Sandvik to its core operations, which for Sandvik Mining and Rock Technology is high technology mining equipment and aftermarket offerings,” said Bjorn Rosengren, president and CEO of Sandvik.

Mining Systems is a supplier of design and engineering of material handling systems for the mining industry. In 2015 the Mining Systems operations, with 1100 employees, had annual sales of Euro527m representing 6% of Sandvik Group revenues.

Uganda: Sandvik Construction has announced that Victoria Equipment is its new distributor in Uganda. Victoria Equipment will supply a range of Sandvik equipment, and provide aftermarket care, spare parts and customer service. The agreement was formalised in February 2016.

"The additional portfolio (of Sandvik equipment) will bring heavy duty equipment and technical expertise closer to our end user as opposed to flying in technicians from abroad," said Sam Kibuuka the Financial Director of General Machinery Group, the holding company for Victoria Equipment.

Sandvik Construction specialises in equipment, tools and service for the breaking, drilling and crushing niches in the construction industry. Application areas include tunnelling, quarrying, well drilling, civil engineering, dimensional stone, demolition and recycling.