Sandvik to divest Sandvik Process Systems

摘要

Sandvik has signed an agreement to divest Sandvik Process Systems to FAM AB, owned by the three largest Wallenberg foundations, for a price of 5.0 billion Swedish krone ($610 million). Sandvik Process Systems supplies industrial process solutions based on high-end steel belts and associated technologies, employing 600 people and with 2016 revenues of 1.7 billion SEK ($207 million), representing 2% of Sandvik's total revenues. Its products include the Rotoform pastillation machine, used for sulphur forming, among other applications.