SDVKY - Sandvik Materials Technology Completes the Divestment of its Welding Wire Business
SANDVIKEN, Sweden, Jan. 31, 2018 /PRNewswire/ --
On 30 October 2017, Sandvik announced the agreement to divest its welding wire business to ESAB. In line with previous communication, Sandvik has now completed the divestment.
Sandvik's welding wire business generated revenues of approximately 500 million SEK in the twelve months to September 30th, 2017. The deal includes the production units in Sandviken, Sweden and Scranton, US as well as the global sales and product management organization; in total approximately 100 employees.
The divestment will have a positive cash flow impact of about 260 million SEK upon closing.
Stockholm, 31 January 2018
Sandvik AB
For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, tel: +46-8-456-14-94 or Carina Aspenberg, Media and PR Manager, tel: +46-70-616-0119.
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SOURCE Sandvik