Joint venture for mid-market equipment

Sandvik is joining forces with Lingong Group Jinan Heavy Machinery Co Ltd in Jinan, Shandong Province, China, to produce and sell surface and underground mining equipment. The joint venture will focus on sourcing, assembly, sales and service of surface drills, underground loaders and underground trucks. The products will be designed for the specific needs of mid-market customers and will be sold under an independent brand. While the initial focus will be to supply products for the Chinese market, the goal of the joint venture will also be to become the leading mid-market mining equipment supplier for other selected parts of the world.