SDVKF - Sandvik to offload its Exploration Business

Sandvik (SDVKF) to divest its Exploration business to Drillman, a subsidiary of the M Group for an undisclosed sum. The deal includes exploration rigs, consumables and production stock, along with selected trademarks and patents. "I am pleased that we have signed an agreement to sell our Exploration business as this is in line with our focus to further improve the efficiency and profitability of our company," says Stefan Widing, President and CEO of Sandvik. The Exploration business will remain consolidated in the financial statements of Sandvik Mining and Rock Technology until closing of the transaction in 4Q20.

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Sandvik to offload its Exploration Business