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Sandvik Divests Non-Strategic Businesses To Focus On Core Operation

September 27, 2024 — 10:52 am EDT

Written by RTTNews.com for RTTNews->

(RTTNews) - Sandvik AB (publ) (SDVKF.PK), Friday announced that the company has divested the engineer-to-order business of DWFritz Automation to private equity firm Balmoral Funds, and intends to exit minority stake in BEAMIT to increase focus on core operations.

The move is expected to cost approximately SEK 390 million in the third quarter, of which about SEK 250 million would be related to the divestment of DWFritz, and around SEK 140 million would be related to a write-down of the stake in BEAMIT.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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