Swedish high-technology engineering and steelmaking group Sandvik has announced that it has completed the establishment of a coal mining equipment joint venture Shandong Energy Machinery Group ZhongRui Mining Equipment Manufacturing Co. Ltd.
In April 2011, Sandvik signed an agreement with Shandong, China-based Shandong Energy Machinery Co. to form a 50-50 joint venture that will focus on assembly, sales and service of high performing roadheaders for the Chinese underground coal market.
According to Sandvik's statement, the joint venture was established on October 12, 2011 and will come into operation in the beginning of 2012.