Sandvik acquire Shanbao
Swedish firm completes acquisition of Chinese supplier of crushing and screening equipment
IN December 2010, Sandvik announced an agreement with the owners of Shanghai Jianshe Luqiao Machinery Co. Ltd (SJL) to acquire 80% of the equity interest in the company, which manufactures crushing and screening equipment under the established trademark Shanbao.
The acquisition was completed on 9 October 2011 and SJL were consolidated into Sandvik Mining and Construction with immediate effect.
In 2010, SJL employed approximately 1,000 staff and achieved revenues close to SEK 1 billion (£95 million). From 1 January 2012, the company will be part of the new business area, Sandvik Construction.
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