The Board intends to propose the distribution and listing of the SMT shares at a shareholders' meeting in 2022, provided that the circumstances are deemed right at the time. The intended distribution of shares is expected to meet the Lex Asea requirements and is subject to approval by Sandvik's shareholders.
"The Board believes that both Sandvik and Sandvik Materials Technology can develop more favorably on their own. Both Sandvik and SMT are well positioned within their areas and we believe this will improve long-term shareholder value. However, a listing should be done when circumstances are favorable," says
"Sandvik Materials Technology is leading in its field, I'm convinced that this is the right direction for SMT and for Sandvik," says
"I'm very pleased with that the Sandvik Board of Directors has taken this decision today. It is an important step towards an exciting future," says Göran Björkman, President of Sandvik Materials Technology.
More information will follow as the work progress.
A webcasted press conference for media and investors is held today in connection to the presentation of the Q3 results starting at 13.00 CET.
For further information, contact
This information is information that
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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
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