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    600549   CNE000001D15

XIAMEN TUNGSTEN CO., LTD.

(600549)
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Xiamen Tungsten : Sandvik completes divestment of minority holding in Xiamen Golden Egret Special Alloy Co., Ltd. (Gesac) - Sandvik Group

07/15/2020 | 11:47am 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

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.

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
SANDVIK AB 0.84% 226.9 Delayed Quote.12.72%
XIAMEN TUNGSTEN CO., LTD. -0.22% 31.13 End-of-day quote.84.75%
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Financials
Sales 2021 23 216 M 3 582 M 3 582 M
Net income 2021 904 M 139 M 139 M
Net Debt 2021 - - -
P/E ratio 2021 48,6x
Yield 2021 0,67%
Capitalization 44 157 M 6 813 M 6 813 M
Capi. / Sales 2021 1,90x
Capi. / Sales 2022 1,74x
Nbr of Employees 13 819
Free-Float 50,2%
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Last Close Price 31,13 CNY
Average target price 24,23 CNY
Spread / Average Target -22,2%
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Gao Chao Wu President, General Manager & Director
Chang Geng Huang Chairman
Ji Song Xu Chairman-Supervisory Board
Mao Chun Hong Independent Director
Xiao Jie Ye Independent Director
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