Sandviken, Sweden-based Sandvik completed its acquisition of 80 percent of the equity interest in Shanghai Jianshe Luqiao Machinery Co. Ltd., a Chinese manufacturer of crushing and screening equipment with the established trademark SHANBAO.
The company, which has 1,000 employees, had revenues in 2010 totaling nearly SEK 1 billion (about U.S. $149.7 million).
The acquisition will be consolidated into Sandvik Mining and Construction. As of Jan. 1, 2012, SJL will be a part of the new business area, Sandvik Construction.
Sandvik is a global industrial group that produces tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems.
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.