Sandvik Establishes Rock Processing Solutions Business

Mon October 19, 2020
Sandvik

Sandvik has decided to establish a new business area, Sandvik Rock Processing Solutions (SRP), as of Jan. 1, 2021. The new business area will consist of the current crushing and screening division, which today is part of the Sandvik Mining and Rock Technology business area.

The reason for this structural change is to further accelerate profitable growth within rock processing, based on crushing and screening addressing separate parts of the value chain and facing different competition to the other Sandvik Mining and Rock Technology divisions.

"Sandvik is market leading within rock processing and our crushing and screening division is a well-performing business with exciting growth opportunities. The business is today already operating quite independently from the rest of Sandvik Mining and Rock Technology, 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," said Stefan Widing, president and CEO of Sandvik.

Sandvik also appointed Anders Svensson, president of the crushing and screening division since 2016, to president of the business area Sandvik Rock Processing Solutions and a new member of the Sandvik Group Executive Management as of Jan. 1, 2021. Anders Svensson joined Sandvik in 2008 and has prior to his current position had several different management positions within Sandvik and in Metso Minerals.

The crushing and screening business had, as a division within Sandvik Mining and Rock Technology, about SEK 7.4 billion in sales and 15.9 percent operating profit margin in 2019 with approximately 2,000 employees.

Business area Sandvik Mining and Rock Technology will continue to be led by Henrik Ager and will as of Jan. 1, 2021, change name to Sandvik Mining and Rock Solutions (SMR).

Further details will be included in the presentations at the upcoming Sandvik Capital Markets Day on Nov. 3, 2020, and proforma numbers for both business areas will be disclosed ahead of the first interim report 2021.

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