SDVKY - Sandvik Considers Further Production Footprint Consolidation
SANDVIKEN, Sweden, Jan. 20, 2020 /PRNewswire/ -- Sandvik Machining Solutions has decided to review the potential closure of a production plant for round tools within the Walter division in Frankfurt, Germany. Production volumes would be transferred to other units within Sandvik Machining Solutions.
The envisaged closure would be expected to be finalized by mid-2021 with full run-rate of net savings of about 110 million SEK. Costs related to the restructuring, amounting to about -365 million SEK, will impact Sandvik Machining Solutions' operating profit in the first quarter of 2020, with the majority impacting cash flow.
Stockholm, 20 January 2020
Sandvik AB
For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, phone: +46-8-456-14-94 or Martin Blomgren, Press and Media Relations Manager, phone: +46-70-577-0549.
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SOURCE Sandvik