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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
By Dominic Chopping
STOCKHOLM--Swedish engineering company Sandvik (SAND.SK) said Tuesday it is selling its power spring business in Scranton, US and Nogales, Mexico to Lesjofors AB, a subsidiary of Beijer Alma Ab (BEIA-B.SK).
Invoiced sales for the business concerned amounted to about $15 million in 2013 and the unit employs 60 employees, of which 40 are in the US and 20 subcontracted employees in Mexico.
Lesjofors AB is a Sweden-based international manufacturer of industrial springs, wire and flat strip components.
The transaction price wasn't disclosed.
Petra Einarsson, President of Sandvik Materials Technology, said "This divestment is in line with Sandvik Materials Technology's strategy to focus more towards the energy segment and applications related to energy efficiency, and exit businesses considered non-core."
The transaction is expected to be finalized by 31 December 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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