Sandvik invests in new load and haul factory in Malaysia to support growing mining BEV market
SANDVIK AB S/ADR (SDVKY)
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Source: PR Newswire
STOCKHOLM, March 10, 2023 /PRNewswire/ -- Sandvik has decided to invest in a new production unit in Malaysia for manufacturing underground loaders and trucks. Equipment production is planned to begin in the fourth quarter of 2023 following factory upgrades and other site improvements. The investment is expected to total SEK 350 million over the coming three years. The establishment of the new factory will help Sandvik Mining and Rock Solutions to cater to the growing demand for battery-electric vehicles (BEVs) in the mining industry. While the primary focus at the new facility will be BEVs, it will also manufacture conventional loaders and trucks as well as battery cages."Malaysia is among the most technologically developed countries in Southeast Asia and has abundant skilled labor, strong local industrial suppliers and reliable infrastructure. Our mining customers in Asia Pacific will enjoy shorter lead times for equipment manufactured to the same Sandvik standards for quality and s
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