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Sandvik to Divest Power Spring Business in U.S., Mexico

Sandvik Materials Technology will sell the business to a subsidiary of Beijer Alma.

Sandvik Materials Technology, a division of Swedish manufacturer Sandvik, is divesting its power spring business in Scranton, PA, and Nogales, Mexico, to Lesjöfors AB, a subsidiary of Beijer Alma.

The divested operation is a manufacturer of power spring solutions for a wide range of customer applications in consumer, industrial, construction and medical environments. Invoiced sales for the business were $15 million in 2013.

Lesjöfors AB is a Sweden-based international manufacturer of industrial springs, wire and flat strip components. Lesjöfors is a subsidiary of Beijer Alma AB and operates from 21 manufacturing units in 10 countries following the acquisition.

"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," said Petra Einarsson, president of Sandvik Materials Technology.

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