Sandvik initiates an internal separation of Sandvik Materials Technology

Sandvik Board of Directors has decided to initiate an internal separation of the business area Sandvik Materials Technology. The intention is to increase Sandvik Materials Technology’s structural independence from the Sandvik Group and thereby put greater focus on the business’ future development possibilities as well as create flexibility. The Board of Directors has also decided to explore the possibility of a separate listing (Lex Asea) at the Nasdaq Stockholm Exchange, should that strengthen Sandvik Materials Technology’s position and future development.

“The decision to initiate an internal separation of Sandvik Materials Technology is based on the board’s belief that each part will develop more favorably by itself, increasing opportunities for profitable growth and improving long-term shareholder value,” says Johan Molin, Chairman of the Sandvik Board of Directors.

“Sandvik Materials Technology represents the origin of Sandvik and great businesses have sprung out of it to shape the current structure. It is my view that a separation will allow full focus on Sandvik Materials Technology’s key strengths and its further improved performance,” says Björn Rosengren, President and CEO of Sandvik.

The separation and preparation for a possible listing is expected to take at least a year. There is no guarantee that a decision to finally list Sandvik Materials Technology will be taken. More details will be provided in due course.

A webcasted press conference for media and investors is held today starting at 15.00 CET in room New York, World Trade Center, Stockholm, Sweden.

After the press conference Björn Rosengren, President and CEO of Sandvik, and Göran Björkman, President of Sandvik Materials Technology, will be available for media interviews.

Access the webcast via https://sandvik-live.creo.se/190506/ or call in using the dial in details below:

SE: +46 8 505 58 368

UK: +44 333 300 9263

US: +1 646 722 4904

Stockholm, 6 May 2019

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.

This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at about 13.00 CET on 6 May 2019.

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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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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 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.