Sandvik Materials Technology divests its distribution business in Australia and New Zealand
Sandvik Materials Technology is divesting its distribution business in Australia and New Zealand to Vulcan Steel Ltd. The divested operations include leading processors and distributors of stainless steel products and other corrosion and wear-resistant products in Australia and New Zealand. Invoiced sales for the business concerned amounted to about 930 million SEK in 2013. The operating margin was 7% and the total number of employees encompassed is 190, of which 125 in Australia and 65 in New Zealand. Currently, they form part of the Tube product area at Sandvik Materials Technology.