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Business|Mining|PROJECT|Sandvik|Sandvik Mining|Equipment
Business|Mining|PROJECT|Sandvik|Sandvik Mining|Equipment
business|mining|project|sandvik|sandvik-mining|equipment

Finland's Metso says it has no plans for a Sandvik tie-up

19th August 2024

By: Reuters

  

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COPENHAGEN - Finnish mining equipment maker Metso said on Monday it has no ongoing plans for a tie-up with the rival mining equipment business unit of Sweden's Sandvik.

Swedish business daily Dagens Industri on Sunday reported that Metso shareholders were contemplating a merger of the company with the Sandvik mining business, potentially forming a regional Nordic giant.

"Market rumours have been made public regarding Metso and Swedish Sandvik's mining business. Metso has no information related to the speculations and no related insider project exists," Metso said in a statement on Monday.

A Sandvik spokesperson declined to comment.

Shares in Metso traded up 3.4% by 08:19 GMT while Sandvik's were up and 2.0%.

Edited by Reuters

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