Sandvik Mining & Construction Oy (Sandvik Oy) and Sandvik Mining & Construction Australia Pty Ltd (SMC) (ACN 003 771 382) alleged that certain previous actions by the company formerly named Rockdrill Services Australia Pty Ltd (ACN 096 371 318) (now named Project Viking Investments Pty Ltd) (PVI) in relation to refurbishing or remanufacturing Sandvik RD525 Rock Drills and/or selling components for use in Sandvik RD525 Rock Drills breached Sandvik’s patent rights in relation to the Sandvik RD525 Rock Drill. PVI disputed these claims.
The parties have agreed to settle the matter on a commercial basis without any admission of liability. The confidential terms include PVI agreeing to pay Sandvik compensation and refraining from any future breaches of the patents. No other comment will be made by Sandvik or PVI on this matter.
Sandvik invests significant sums of money in research and development, and also in registering intellectual property rights, such as patents, which are designed to protect this investment in our products. Sandvik believes it must protect its interests to continue investing in the future and to remain world leaders in tools, service and equipment design."
Brisbane, Australia, February 4, 2019
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2018, the Group had approximately 42,000 employees and sales of 100 billion SEK in more than 150 countries within continuing operations.
Sandvik Mining and Rock Technology
Sandvik Mining and Rock Technology is a business area within the Sandvik Group and a global leading supplier of equipment and tools, service and technical solutions for the mining and construction industries. Application areas include rock drilling, rock cutting, crushing and screening, loading and hauling, tunneling, quarrying and breaking and demolition. In 2018, sales were approximately 43 billion SEK with about 15,000 employees in continuing operations.