STOCKHOLM, Sweden, May 17, 2017 /PRNewswire/ –In order to further consolidate the product portfolio and improve its long term performance, Sandvik Materials Technology intends to divest parts of its wire operations.
- To be divested: welding and stainless wire. These businesses are subject to intense competition and Sandvik Materials Technology does not hold a No. 1-2 market position. In 2016 the wire businesses, which are to be divested, generated total annual revenues of about 700 million SEK.
- To remain in Sandvik Materials Technology: Kanthal wire for industrial heating etc. These businesses will be included in the Kanthal product area and are regarded as core businesses due to the strong market positions and growth potential. In 2016 operations now transferred into the Kanthal product area had annual revenues of about 800 million SEK.
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