Sandvik, Stockholm, Sweden, has signed an agreement to sell Sandvik Process Systems based in Fellbach, Germany, to FAM AB for a price of 5.0 billion SEK. The new name of Sandvik Process Systems has not yet been announced. The company delivers advanced industrial process systems based on high-grade steel belts, including Rotoform granulation, cooling, ThermoPress and scattering systems as well as related steel belt technologies. In 2016 these operations, involving about 600 employees, generated revenues of 1.7 billion SEK, representing 2% of Sandvik’s total revenues and with a strong operating margin.

 

“We look forward to further develop, together with management and the employees, the Process Systems business as an independent company with strong focus on profitable growth”, commented Lars Wedenborn, CEO of FAM.

 

The finalising of the transaction is expected no later than early 2018 and is subject to the approval of relevant authorities. Sandvik AB was obliged to make this information public, in accordance with the EU Market Abuse Regulation and the Securities Markets Act. www.processsystems.sandvik.com 

 

 

A Sandvik Rotoform 4G granulation system