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.

"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.

In addition, Sandvik has appointed Anders Svensson, who has been president of the Crushing and Screening division since 2016, to the role of president of the business area Sandvik Rock Processing Solutions and a new member of the Sandvik Group Executive Management as of 1 January 2021. Svensson joined Sandvik in 2008 and has prior to his current position had several different management positions within Sandvik and in Metso Minerals.

The Crushing and Screening business had, as a division within Sandvik Mining and Rock Technology, about SEK7.4 billion (US$837 million) in sales and 15.9 per cent operating profit margin in 2019 with about 2,000 employees.

Business area Sandvik Mining and Rock Technology will continue to be led by Henrik Ager and will as of 1 January 2021 change name to Sandvik Mining and Rock Solutions (SMR).