The 2020 Mid-Year Economic Update_long

Sandvik Divests Stainless Wire Business

Swedish manufacturer completes previously announced sale to the Zapp Group.

Swedish manufacturer Sandvik has completed the previously announced divestment of its stainless wire business to the German family-owned Zapp Group.

As of August 31, 2018, the stainless wire business will be deconsolidated from Sandvik's financial statements. Revenues in the stainless wire business amounted to 310 million SEK (US$34 million) in 2017.

 

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