Tag Archives: Lars Engström

Henrik Ager to lead Sandvik Mining and Rock Technology

Automation, Equipment maintenance, Mining equipment, Mining people, Mining services, Mining software, , , , ,

Sandvik has appointed Henrik Ager, currently President for the Rock Tools division, as President of the Sandvik Mining and Rock Technology business area and a member of the Sandvik Group Executive Management, effective April 1.

Ager has more than 16 years’ experience in the mining industry, of which an extensive period has been spent living in South Africa. Additionally, he has worked in Australia, South America, India and other important mining markets.

His previous experience at Sandvik includes being President for the Global Equipment division and Vice President for Strategy within Sandvik Mining and Rock Technology. He also held leading positions at McKinsey, Ericsson and several high-tech start-ups prior to joining Sandvik in 2014.

Sandvik’s President and CEO, Björn Rosengren, said: “I’m convinced that Henrik Ager, with his experience, already proven leadership skills and excellent performance in Sandvik, has the right capabilities to lead Sandvik Mining and Rock Technology going forward.

“Henrik is committed to further strengthening Sandvik Mining and Rock Technology’s market position, reinforcing customer relations, driving aftermarket sales, leveraging further on a decentralised way of working and ensuring our forefront position within automation, electrification and sustainability.”

Ager succeeds Lars Engström who, as announced last month, will leave Sandvik.

Photo credit: Gefle Dagblad, GD

Sandvik Mining and Rock Technology’s Lars Engström to leave in 2019

Mining equipment, Mining people, Mining services, Mining software, , , ,

Sandvik has announced that Lars Engström, President of Sandvik Mining and Rock Technology, will leave the company this year after the appointment of a successor.

The news came on the same day the company announced the acquisition of battery-electric underground machine specialist Artisan Vehicles.

Engström has been a member of the executive management of Sandvik since 2016, heading up the Sandvik Mining and Rock Technology business. He has, during this time, successfully improved the performance of the business area and its divisions in accordance with Sandvik’s strategy to ensure stability, profitability and growth, the company said.

“During Lars Engström’s leadership, Sandvik Mining and Rock Technology’s has grown from about SEK30 billion ($3.33 billion) to SEK44 billion in revenues and the operating margin has improved from 10% in the beginning of 2016 to 19% in the fourth (December) quarter of 2018,” Sandvik said.

Björn Rosengren, Sandvik’s President and CEO, said he was very grateful for Engström’s contributions to the group.

“He has built a successful decentralised organisation and significantly strengthened the results of Sandvik Mining and Rock Technology’s divisions. However, we have now together reached the conclusion that it’s time for a new leadership.

“We have a lot of good talent in Sandvik so I feel confident that we will have several interested and motivated candidates for the job. At the same time, I’m pleased that Lars will stay on-board to ensure a successful transition before leaving.”

The recruitment process for a new president of Sandvik Mining and Rock Technology will now be initiated, Sandvik noted.

Sandvik ups battery-electric machine capacity with Artisan Vehicles buy

Environmental, Mining equipment, Mining mergers and acquisitions, Power supply for mines, , , , , , , , , , ,

Sandvik has acquired privately-owned Artisan Vehicle Systems as it looks to capture more market share in the fast-moving battery-electric mining equipment space.

Based in Camarillo, California, US, Artisan is a manufacturer of battery-powered underground mining equipment. It has three commercially-available machines: a 4-t capacity LHD (A4, pictured), 10-t capacity LHD (A10) and a 40-t capacity haul truck (Z40).

The core technology behind Artisan’s offering is battery packs, electric motors, power electronics, software and control systems, according to Sandvik. “Artisan’s underground mining loaders and trucks are designed with these high-powered, highly reliable and field proven battery electric powertrains,” the company said, adding that Artisan is the market leader with most battery-electric vehicles currently operating in underground mining.

Lars Engström, President, Sandvik Mining and Rock Technology, said: “I am pleased to see the strategic acquisition of Artisan so soon after the opening of Sandvik’s state-of-the-art battery electrification innovation and development centre in Turku, Finland, in 2018. It is in line with our ambition to be leading in the market for battery-electric vehicle solutions.”

Artisan will be a business unit in the Load and Haul Division within Sandvik Mining and Rock Technology, the company said.

Mats Eriksson, President Load and Haul Division, Sandvik Mining and Rock Technology, said: “The area in which Artisan is located is a frontrunner in electric vehicle development. Our new R&D foothold there will complement the skillset we have in Finland. The combination of knowhow and skills creates a very strong platform.”

Prior to this acquisition, Sandvik had just one battery-powered underground machine, it’s DD422iE jumbo drill.

Artisan is a start-up company which, in 2017, had revenues of $12.3 million and approximately 60 employees.

The parties have agreed not to disclose the purchase price, but the transaction is expected to close during the March quarter. The deal is initially neutral to earnings per share, Sandvik said.