SDVKY - Sandvik expands in Latin America through the acquisition of MCB Services and Minerals

PR Newswire

STOCKHOLM , April 3, 2023 /PRNewswire/ -- Sandvik has signed and completed the acquisition of MCB Services and Minerals ("MCB"), a seller of mining software and services and exclusive reseller partner to Deswik in Brazil . MCB, which had revenues of SEK 60 million in 2022, will be reported in Digital Mining Technologies, a division within business area Sandvik Mining and Rock Solutions (SMR). Impact on Sandvik's earnings per share will be accretive.

Sandvik acquired Deswik in April 2022 , and MCB and Deswik has operated on a joint venture basis in supporting customers across Latin America – primarily in Brazil , but also in Chile , Peru , Argentina and Mexico . Deswik acquired 30% of MCB's shares in 2019 and the acquisition of the whole company strengthens Deswik's leading position within the Latin American market. MCB, which trades as Deswik Brazil, brings strong customer relationships with a number of important open pit mines in the region, supporting SMR's strategic objective to grow within the surface mining segment.

Stockholm , April 3 , 2023

Sandvik AB

For further information, contact Louise Tjeder , VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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SOURCE Sandvik