Sandvik, a developer and manufacturer of products in advanced stainless steels and special alloys, with locations throughout the Americas, has signed an agreement to divest Sandvik Process Systems to FAM AB, owned by the three largest Wallenberg foundations.
Sandvik Process Systems delivers industrial process solutions based on high-end steel belts, steel belt based equipment and process solutions within adjacent technologies.
This is an important step in focusing Sandvik on its core businesses. The divestment creates additional capacity for growth and expansion of the core business of Sandvik, says Björn Rosengren, President and CEO of Sandvik.