Sandvik to Separate Materials Technology Unit, Explores Listing
May 06 2019 - 7:53AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish industrial-equipment supplier Sandvik AB
(SAND.SK) said Monday it will separate its Sandvik Materials
Technology unit and explore a listing of the business.
"The intention is to increase Sandvik Materials Technologys
structural independence from the Sandvik Group and thereby put
greater focus on the business future development possibilities as
well as create flexibility," the company said.
The separation and preparation for a possible listing is
expected to take at least a year, it said, and there is no
guarantee that a decision to finally list Sandvik Materials
Technology will be taken.
More details will be provided in due course.
The company's Materials Technology unit manufactures advanced
stainless steels and special alloys. Products include tube, pipe,
bar and strip steel as well as products for industrial heating.
In 2018, the unit generated 15.11 billion Swedish kronor ($1.58
billion) in revenue, representing 15% of the group total.
Write to Dominic Chopping at dominic.chopping@wsj.com;
@domchopping @WSJNordics
(END) Dow Jones Newswires
May 06, 2019 07:38 ET (11:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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