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Name | Symbol | Market | Type |
---|---|---|---|
Sandvik AB (PK) | USOTC:SDVKY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.19 | 20.50 | 20.70 | 0.00 | 13:14:55 |
Swedish engineering company Sandvik AB (SAND.SK) Wednesday said it will stop production at its wire and resistance strip operations in the Swedish town Hallstahammar over the next 18 months, reducing its workforce there by 100 people.
The company said the measures are part of a program announced by its Materials Technology unit in September, 2011 to restructure its wire-and strip operations.
Sandvik said the company aims to phase out wire products that aren't sufficiently profitable or don't form part of the core business. It added that some of its wire production will be transferred to the Swedish town Sandviken and to plants in India and China from Hallstahammar.
At 0838 GMT shares traded 1.3% lower at SEK94.75.
-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097; katarina.gustafsson@dowjones.com
1 Year Sandvik AB (PK) Chart |
1 Month Sandvik AB (PK) Chart |
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