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    SAND   SE0000667891

SANDVIK AB

(SAND)
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Sandvik : completes divestment of minority holding in Xiamen Golden Egret Special Alloy Co., Ltd. (Gesac)

07/15/2020 | 07:01am EDT

Sandvik Machining Solutions has completed the previously announced divestment of its 10% minority ownership in Gesac, a Chinese joint venture originally formed in 2005. The minority was divested to Xiamen Tungsten Co., Ltd., the majority owner of Gesac.

Purchase price corresponds to approximately SEK 0.7 billion (CNY 0.49 billion), based on current exchange rates and a capital gain of approximately SEK 0.6 billion will be reported in Sandvik's net financial items in the third quarter 2020. 

Stockholm, 15 July 2020
 

Sandvik AB

For further information, contact Anna Vilogorac, Investor Relations, phone: +46 70 616 50 19 or Martin Blomgren, Press and Media Relations Manager, phone: +46 70 577 0549.

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Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. We hold world-leading positions in selected areas - tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2019, the Group had approximately 40,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.

https://news.cision.com/sandvik/r/sandvik-completes-divestment-of-minority-holding-in-xiamen-golden-egret-special-alloy-co--ltd---gesa,c3154589

https://mb.cision.com/Main/208/3154589/1279534.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English

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ChangeLast1st jan.
SANDVIK AB 0.40% 225.2 Delayed Quote.11.43%
XIAMEN TUNGSTEN CO., LTD. 0.30% 29.96 End-of-day quote.77.80%
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Sales 2021 95 927 M 11 179 M 11 179 M
Net income 2021 14 027 M 1 635 M 1 635 M
Net Debt 2021 2 627 M 306 M 306 M
P/E ratio 2021 19,9x
Yield 2021 2,36%
Capitalization 281 B 32 715 M 32 789 M
EV / Sales 2021 2,96x
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Nbr of Employees 38 995
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