Sandvik AB, Sandviken, Sweden, has decided to establish a new business area called Sandvik Rock Processing Solutions (SRP), effective January 1, 2021. The new business will consist of the company’s crushing and screening division, which was part of the Sandvik Mining and Rock Technology business area. SRP will address different parts of the value chain and compete with different companies versus the other Sandvik Mining and Rock Technology divisions. The new business area will be led by Anders Svensson, who has served as president of the crushing and screening division since 2016.
Sandvik also announced that it would move to separately list Sandvik Materials Technology (SMT) on the stock exchange. Sandvik has already completed the internal separation of Sandvik and SMT, so the group will proceed with preparation to distribute SMT stock to shareholders at the company meet-ing in 2022 and list the shares on the Nasdaq Stockholm Exchange. SMT is a developer and manufacturer of advanced stainless steels and special alloys.