Sandvik has signed an agreement to divest its Process Systems operations
Sandvik has signed an agreement to divest Sandvik Process Systems to FAM AB, owned by the three largest Wallenberg foundations, at a price of 5.0 billion SEK. Sandvik Process Systems delivers advanced industrial process solutions based on high-end steel belts, steel belt based equipment and process solutions within adjacent technologies. In 2016 the operations, with approximately 600 employees, had reported revenues of 1.7 billion SEK representing 2% of Sandvik’s total revenues and with a strong operating margin. “This is an important step in focusing Sandvik on its core businesses.