Sandvik completes the divestment of Sandvik Process Systems

On 2 June 2017 Sandvik announced the agreement to divest Sandvik Process Systems to FAM AB. In line with previous communication, Sandvik has now completed the divestment of Sandvik Process Systems.

The divestiture will result in a pre-tax capital gain of about 4 billion SEK which will positively impact the operating profit in the fourth quarter of 2017.

Sandvik Process Systems has been reported in Other Operations and the divested business will as of today be deconsolidated from Sandvik’s financial statements.

After de-consolidation of Sandvik Process Systems, Other Operations will consist of Other Operations common costs and product area Hyperion.

Other Operations, pro-forma after deconsolidation of Sandvik Process Systems

MSEK                                     Q4 2016                  Q1 2017                    Q2 2017                       Q3 2017
Revenues                                       757                         802                            840                              802
Operating profit                               63                           74                              32                                60

Stockholm, 1 December 2017

Sandvik AB

For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, tel: +46 8 456 1494 or  Carina Aspenberg, Media and PR Manager, tel: +46 70 616 0119.

--------------------------------------------------------------------------------------------------------------------------------------------------------

Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2016, the Group had approximately 43,000 employees and sales of 82 billion SEK in more than 150 countries within continuing operations.

Tags:

About Us

Sandvik Group Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2016, the Group had approximately 43,000 employees and sales of 82 billion SEK in more than 150 countries within continuing operations.