Sandvik had earlier announced the ambition to close the Mining Systems transaction during Q4 2016. The company has now announced that the deal will not be finalised according to the original plan as all conditions for closing have not been met. The business includes the In-Pit Crushing and Conveying (IPCC) equipment and project arm of the company.
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”, said Björn Rosengren, President and CEO of Sandvik.