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SDVKY Sandvik AB (PK)

20.19
0.09 (0.45%)
30 Jul 2024 - Closed
Delayed by 15 minutes
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

Sandvik Sells Sandvik Medical Solutions For Undisclosed Sum

24/02/2012 8:45am

Dow Jones News


Sandvik AB (PK) (USOTC:SDVKY)
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Swedish engineering company Sandvik AB (SAND.SK) Friday said it has reached an agreement to sell Sandvik Medical Solutions to Orchid Orthopedic Solutions, owned by Altor Fund III, for an undisclosed sum.

Sandvik last year announced its intention to sell the unit, which makes medical implants and instruments for orthopedic and dental applications.

"The divestment of Sandvik Medical Solutions is in line with our strategy to exit operations outside of the defined core businesses," Anders Thelin, president of Sandvik's Venture business area.

Sandvik said the divestment of the business--which employs around 550 people in the U.S. and the U.K. and had sales of around SEK600 million or $90 million last year--is expected to be concluded in March 2012.

At 0808 GMT Sandvik shares traded 0.5% higher at SEK103.30.

-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097; katarina.gustafsson@dowjones.com

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