STOCKHOLM, June 2, 2017 /PRNewswire/ --Sandvik has signed an
agreement to divest Sandvik Process Systems to FAM AB, owned by the three largest Wallenberg foundations, at a price of
5.0 billion SEK.
Sandvik Process Systems delivers advanced industrial process solutions based on high-end steel belts, steel belt based
equipment and process solutions within adjacent technologies. In 2016 the operations, with approximately 600 employees, had
reported revenues of 1.7 billion SEK representing 2% of Sandvik's total revenues and with a strong
operating margin.
"This is an important step in focusing Sandvik on its core businesses. The divestment creates additional capacity for growth
and expansion of the core business of Sandvik", says Björn Rosengren, President and CEO of Sandvik.
"We look forward to further develop, together with management and the employees, the Process Systems business as an
independent company with strong focus on profitable growth", says Lars Wedenborn, CEO FAM.
Sandvik Process Systems will remain reported in Other Operations in the Sandvik financial statements. The closing of the
transaction is expected no later than early 2018 and is subject to the approval of relevant authorities. Upon closing, the
transaction will generate a substantial capital gain to be reported in Sandvik's financial statements.
The intention to divest Sandvik Process Systems was first communicated through a press release 3 May 2016.
For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, tel:
+46-8-456-14-94 or Pär Altan, Vice President External Communications, tel: +46-70-616-2024.
This information is information that Sandvik AB is obliged to make public pursuant to the EU Market Abuse Regulation and the
Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at
09.00 CET on 2 June 2017.
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SOURCE Sandvik