Sandvik divests ownership in joint venture Fagersta Stainless

In addition to the previously communicated intention to exit from the stainless wire business, Sandvik further consolidates its business portfolio by divesting its 50% stake in Fagersta Stainless wire rod mill, a joint venture between Sandvik Materials Technology and Outokumpu. Outokumpu will take full ownership of Fagersta Stainless and the purchase price is 184 million SEK. In 2017, the company’s revenues were approximately 1.6 billion SEK, with Sandvik’s share of the net profit consolidated as income from associated companies in Sandvik’s financial statements. The transaction is