Swedish industrial group Sandvik AB (SAND.SK) said Monday it has completed the establishment of a coal mining equipment joint venture in China.

 
   MAIN FACTS:

-Sandvik announced on Apr. 29, 2011 an agreement with Shandong Energy Machinery Co. in Xintai, Shandong Province, China to form a 50/50 owned joint venture for the production and sales of coal mining equipment.

-The joint venture will focus on assembly, sales and service of high performing roadheaders for the Chinese underground coal market.

-The joint venture Shandong Energy Machinery Group ZhongRui Mining Equipment Manufacturing Co. Ltd was legally established on Oct. 12, 2011 and the work to make the joint venture operational in the beginning of 2012 has started.

-From Jan. 01, 2012, the joint venture will be a part of the new business area Sandvik Mining to be in line with the new Sandvik strategy announced on Sep. 02, 2011.

-Shares closed Friday at SEK83.85.

-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com

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