SANDVIK STEEL DIVESTS GULDSMEDHYTTE BRUKS AB

Main Menu | News By Date | News By Supplier | News By Category | About Us

SANDVIK STEEL DIVESTS GULDSMEDHYTTE BRUKS AB
28 November 2000 - Sandvik Materials Technology UK

Sandvik Steel today signed an agreement covering the sales of the subsidiary Guldsmedshytte Bruks AB to the Norwegian Windcast Group A/S. Ownership of the company will be transferred to the Windcast Group on 1 January 2001.

Guldsmedshytte Bruks AB, which has sales of about SEK 90 M, has 84 employees and produces castings for use in steel mills, among other applications.

Windcast Group A/S holds a leading position in castings for wind power plants and has sales of SEK 310 M. The Group has production companies in Norway and Germany. The largest single owner is AB Kemisten, a Swedish casting group with sales of SEK 250 M.

'The sale is part of our previously announced restructuring program, which is aimed at focusing on core operations and to secure a sustained, long-term return,' says Lars Pettersson, President of Sandvik Steel.

Sandviken, 28 November 2000

For further information, contact Per Ove Ehrling, Vice President and General Manager Finance & Information Systems, Sandvik Steel,
+46 26 26 36 36.

http://www.smt.sandvik.com/uk

About: Sandvik Materials Technology UK
Sandvik Materials Technology is a world leading producer of high technology stainless steels, special alloy materials and advanced value-added products, developed in close cooperation with customers.

Sandvik Materials Technology consists of five product areas: Tube, Strip, Wire, Kanthal and Process Systems.

Sandvik Materials Technology is a business area within the Sandvik Group.

More News:
  • For November 2000
  • From Sandvik Materials Technology UK
  • For General