PR Newswire
STOCKHOLM, Sweden, May 17, 2017
STOCKHOLM, Sweden, May 17, 2017 /PRNewswire/ --
In order to further consolidate the product portfolio and improve its long term performance, Sandvik Materials Technology intends to divest parts of its wire operations.
A charge of -450 million SEK related to the transaction will impact the result for the second quarter 2017. This is primarily impairments related to fixed assets. The cash flow impact from the transaction is expected to be positive.
"The divestment of the welding and stainless wire businesses will make Sandvik Materials Technology more focused on its core operations; advanced stainless steels and special alloys for the most demanding industries. We will continue to develop our core businesses to ensure long term value creation. A new organizational structure is being created, effective as from 1 July 2017, whereby each product area will be responsible and accountable for the entire value chain and its results. The four new product areas will be Tube, Kanthal, Powder and Strip", says Petra Einarsson, President of business area Sandvik Materials Technology.
For further information, contact:
Ann-Sofie Nordh,
Vice President Investor Relations
tel: +46-8-456-14-94
Carina Aspenberg,
Media and PR Manager
tel: +46-70-616-01-19
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SOURCE Sandvik
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