Sandvik targets Sandvik Materials Technology listing in Q2 or Q3 2022
The Sandvik Board of Directors has today confirmed its previous decision to proceed with the preparation to distribute Sandvik Materials Technology (SMT) to Sandvik’s shareholders and list the company’s shares on the Nasdaq Stockholm Exchange. The Board’s current target is to complete the listing on the Nasdaq Stockholm Exchange during the second or third quarter 2022, subject to approval by Sandvik’s shareholders. The intended distribution of shares is expected to meet the Lex Asea requirements.
“The internal separation of SMT is proceeding as planned and the previously communicated reasons for a distribution and listing remain relevant. We believe that both Sandvik and Sandvik Materials Technology can develop more favorably on their own”, says Johan Molin, Chairman of the Sandvik Board of Directors.
As previously communicated, The Board intends to formally propose the distribution and listing at a shareholders’ meeting next year.
Stockholm, October 18, 2021
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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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 sustainability. 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 2020 the Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries within continuing operations.
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