Sandvik To Acquire Chilean Implementos Mineros |
(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)
Sandvik Steel
20-STMH
Sweden
Press release date: September 18, 2006
STOCKHOLM, Sweden--Sept. 18, 2006--Sandvik (STO:SAND) (LSE:SDF) has signed an agreement with Implementos Mineros SA (Implemin), Chile, covering the acquisition of the company and its operations.
Implemin is Latin America's leading producer and supplier of consumables for rotary drilling and RC (reverse circulation) drilling within mineral exploration. Implemin had sales of about SEK 90 M in 2005, with some 90 employees. The company's head office and production is located in Santiago, Chile.
The acquisition is expected to be completed within a few weeks.
"The acquisition is in line with the Sandvik Group's long-term strategy of continued profitable growth and to deliver increased customer value. Combined with previous acquisitions this purchase means that we can deliver fully integrated solutions for rotary drilling to customers worldwide. Implemin will also strengthen our offering for surface mineral exploration by providing additional consumables and tools to the product range. The acquisition is also part of our strategy to increase sales in the after-market.
Implemin is a company with a strong market position in Latin America and we intend to continue to expand this offering within rotary drilling and mineral exploration," says Lars Josefsson, President of the Sandvik Mining and Construction business area.
Sandviken, 18 September 2006
Sandvik AB; (publ)
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas - tools for metal cutting, machinery and tools for rock excavation, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems and sorting systems. The Group has 39,000 employees and representation in 130 countries, with annual sales of approximately SEK 63,000 M.
Sandvik Mining and Construction is a business area within the Sandvik Group and a world-leading manufacturer of drilling and excavation machinery, tools and service for the mining and construction industries. Annual sales amount to SEK 20,600 M, with about 10,600 employees.
This information was brought to you by Waymaker http://waymaker.net
Contacts
Sandvik Mining and Construction AB Gert Skold, +46 26 26 51 05 or Jan Lissaker, +46 26 26 10 23.
|
|
|
|
|
|
|
|
|
|
|
| 
