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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.09 | 0.45% | 20.19 | 20.10 | 20.25 | 20.24 | 20.11 | 20.126 | 88,676 | 21:00:24 |
From Jul 2019 to Jul 2024
STOCKHOLM--Sandvik's (SAND.SK) Materials Technology unit has sold its distribution business in Australia and New Zealand to steel distributor Vulcan Steel for an undisclosed price, it said Tuesday.
The Swedish engineering group said invoiced sales for the divested business were about SEK930 million in 2013 with an operating margin of 7%.
"The divested operations involve a limited linkage to the rest of the business area, with a very small part of the total sales coming from Sandvik's own production system," it said. "The divestment does not impact the other Sandvik business areas in these countries."
As part of the transaction, a distribution agreement has been put in place between Sandvik and the new owner, to enable continued deliveries of Sandvik Materials Technology products to the region.
The transaction is expected to be finalized in October 2014.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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