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    SAND   SE0000667891

SANDVIK AB

(SAND)
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Delayed Quote. Delayed Nasdaq Stockholm - 09/17 09:55:50 am
213.8 SEK   -1.57%
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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

Stocks mentioned in the article
ChangeLast1st jan.
SANDVIK AB -1.47% 213.8 Delayed Quote.7.90%
XIAMEN TUNGSTEN CO., LTD. -6.52% 28.8 End-of-day quote.70.92%
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Financials
Sales 2021 96 282 M 11 163 M 11 163 M
Net income 2021 14 082 M 1 633 M 1 633 M
Net Debt 2021 4 245 M 492 M 492 M
P/E ratio 2021 19,2x
Yield 2021 2,45%
Capitalization 272 B 31 554 M 31 588 M
EV / Sales 2021 2,87x
EV / Sales 2022 2,52x
Nbr of Employees 38 995
Free-Float 97,4%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 217,20 SEK
Average target price 254,90 SEK
Spread / Average Target 17,4%
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Managers and Directors
Stefan Widing President, Chief Executive Officer & Director
Tomas Eliasson Chief Financial Officer & Executive Vice President
Johan Molin Chairman
Lars Erik Westerberg Independent Director
Jennifer Margaret Allerton Independent Director
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