Sandvik acquires Chinese supplier of crushing and screening equipment
Sandvik has reached an agreement to acquire 80% of Shanghai Jianshe Luqiao Machinery Co., Ltd. (SJL) from Shanghai Electric Industrial Co., a state-owned enterprise, and CRABEC (Shanghai) Limited. SJL will become a part of Sandvik Mining and Construction.
SJL is a leading supplier of crushing and screening equipment, including consumables and services, to the Chinese mining and construction industries. The company has manufacturing facilities in Shanghai and sales and service distribution networks in most Chinese provinces and in several countries outside China. SJL has approximately 1,200 employees and sales of approximately SEK 1 billion in 2010.
Sandvik Mining and Construction is a business area within the Sandvik Group and a leading global supplier of equipment, cemented-carbide tools, service and technical solutions for the excavation and sizing of rock and minerals in the mining and construction industries. Annual sales in 2009 amounted to about SEK 32.6 billion with approximately 14,400 employees.
Sandvik is a global industrial and engineering group in tooling, materials technology, mining and construction. In 2009, the group had about 44,000 employees and representation in 130 countries, with annual sales of nearly SEK 72.0 billion. The company is listed on NASDAQ OMX Stockholm.
Sandvik was advised by Mannheimer Swartling on the transaction. The firm’s team in China handled the assignment led by Thomas Lagerqvist and Oliver Schulte, primarily assisted by Rachel Dong and Chris Yu. Johan Carle, assisted by Teresia Danielsson, advised on competition law issues.