Sandvik considers further production footprint consolidation

Sandvik Machining Solutions has decided to review the potential closure of a production plant for round tools within the Walter division in Frankfurt, Germany. Production volumes would be transferred to other units within Sandvik Machining Solutions.

The envisaged closure would be expected to be finalized by mid-2021 with full run-rate of net savings of about 110 million SEK. Costs related to the restructuring, amounting to about -365 million SEK, will impact Sandvik Machining Solutions’ operating profit in the first quarter of 2020, with the majority impacting cash flow.

Stockholm, 20 January 2020
 

Sandvik AB

For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, phone: +46 8 456 14 94 or Martin Blomgren, Press and Media Relations Manager, phone: +46 70 577 0549.

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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 industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2018, the Group had approximately 42,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.

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