Sandvik will establish a new business area, Sandvik Rock Processing Solutions, as of Jan. 1, 2021. The new business area will consist of the current Crushing and Screening division, which is now part of the Sandvik Mining and Rock Technology business area.
The reason for this structural change is to further accelerate profitable growth within rock processing, based on Crushing and Screening addressing separate parts of the value chain and facing different competition to the other Sandvik Mining and Rock Technology divisions, the company stated.
“Sandvik is market leading within rock processing and our Crushing and Screening division is a well-performing business with exciting growth opportunities. The business is today already operating quite independently from the rest of Sandvik Mining and Rock Technology, with its own manufacturing, sourcing and aftermarket. By establishing Rock Processing Solutions as a business area we will improve transparency and strengthen our growth ambitions within the area,” said Stefan Widing, president and CEO of Sandvik.
Sandvik also appointed Anders Svensson, president of the Crushing and Screening division since 2016, to president of Sandvik Rock Processing Solutions and a new member of Sandvik Group executive management as of Jan. 1, 2021. Svensson joined Sandvik in 2008 and, prior to his current position, has held several different management positions within Sandvik and in Metso Minerals.
The Crushing and Screening business currently has a 15.9% operating profit margin with about 2,000 employees. Sandvik Mining and Rock Technology will continue to be led by Henrik Ager and will change its name to Sandvik Mining and Rock Solutions.
Further details will be included in presentations at the upcoming Sandvik Capital Markets Day on Nov. 3 and proforma numbers for both business areas will be disclosed ahead of the first interim report 2021.