Sandvik moves towards separate listing of SMT
16 November 2020
The Sandvik Board of Directors recently decided that following the completion of the internal separation of Sandvik Materials Technology (SMT), Sandvik will proceed with the preparation to distribute SMT to Sandvik’s shareholders and list the company’s shares on the Nasdaq Stockholm Exchange. 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 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,” says Johan Molin, Chairman of the Sandvik Board of Directors.
“Sandvik Materials Technology is leading in its field, I’m convinced that this is the right direction for SMT and for Sandvik,” says Stefan Widing, President and CEO of Sandvik.
More information will follow as the work progress.
Courtesy of Sandvik.