To replace them, they will put in place a supply agreement, through which Carpenter will supply Sandvik. Joint development activities within near-net shape (NNS) will continue within the new set-up of cooperation.
In October 2010, Carpenter acquired a 40% interest in Sandvik Powdermet AB, while Sandvik AB acquired a 40% interest in Sweden-based Carpenter Powder Products (CPP) AB. The original deal entailed Powdermet AB in Surahammar, Sweden, and Carpenter Powder Products AB in Torshälla, Sweden.
The two joint ventures will be fully dissolved by the end of the calendar year.
