Sandvik acquiring 80 percent of Jianshe Luqiao Machinery Co. Ltd., a Chinese crushing and screening equipment company.
Sandvik, headquartered in Sandviken, Sweden, has anreaching an agreement with the owners of Jianshe Luqiao Machinery Co. Ltd. (SJL), based in Shanghai, China, to acquire 80 percent of the equity interest in the Chinese crushing and screening equipment company.
According to Sandvik, the acquisition is expected to be completed within six to nine months, following regulatory approvals.
SJL designs and manufactures crushing and screening equipment for the Chinese mining and construction industries. The company also has a footprint in the international market for crushing and screening equipment.
SJL has two manufacturing facilities in Shanghai. The company also operates a sales and service distribution network throughout China.
“This acquisition is in line with Sandvik’s long-term strategy of continued profitable growth, and our aim is to become a leading supplier of crushing and screening solutions to the Chinese and international markets,” says Lars Josefsson, president of Sandvik Mining and Construction. “The acquisition of SJL extends our customer offering by adding crushing and screening equipment for new, large customer segments in China and abroad, thus enabling Sandvik to become a strong supplier in this fast-growing industry.
“SJL is well positioned in the rapidly expanding crushing and screening market in China and has modern manufacturing facilities, competitive and cost-effective products and a well-developed distribution network,” Josefsson adds. “Combined with Sandvik’s global capabilities, this will allow us to broaden and further develop our crushing and screening business into new markets and provide our customers with an even more comprehensive range of competitive products, services and solutions.”