Sandvik says that its board of directors has decided to initiate an internal separation of its Materials Technology business area.
According to the company, the aim is to increase Sandvik Materials Technology’s structural independence from the Sandvik Group and ‘put greater focus on the business’ future development possibilities as well as create flexibility’. The board is also reportedly looking into creating a separate listing (Lex Asea) at the Nasdaq Stockholm Exchange which could strengthen Sandvik Materials Technology’s position and future development.
‘The decision to initiate an internal separation of Sandvik Materials Technology is based on the board’s belief that each part will develop more favorably by itself, increasing opportunities for profitable growth and improving long-term shareholder value,’ said chair Johan Molin.
‘It is my view that a separation will allow full focus on Sandvik Materials Technology’s key strengths and its further improved performance,’ added Björn Rosengren, president and CEO.
This story uses material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
