Swedish manufacturer Sandvik Materials Technology has signed an agreement to divest its welding wire operations to ESAB, a global leader in the welding industry and part of Colfax Corporation. The agreement completes the main step in the divestment plan for welding wire and stainless wire announced on May 17.
The deal includes the production units in Sandviken, Sweden and Scranton, US as well as the global sales and product management organization. Revenues for the welding wire business amounted to SEK 470 million (US$56.2 million) in 2016.
Sandvik has appointed Göran Björkman as new president of business area Sandvik Materials Technology and member of the Sandvik Group Executive Management Team. He succeeds Petra Einarsson who is leaving the company for an external assignment.
Björkman has been with the company since 1990. He was most recently vice president of production at Sandvik Coromant and vice president of production strategy, Sandvik Machining Solutions.