Sandvik Completes the Divestment of Sandvik Process Systems

SANDVIKEN, Sweden, December 1, 2017 /PRNewswire/ --

On 2 June 2017 Sandvik announced the agreement to divest Sandvik Process Systems to FAM AB. In line with previous communication, Sandvik has now completed the divestment of Sandvik Process Systems.

The divestiture will result in a pre-tax capital gain of about 4 billion SEK which will positively impact the operating profit in the fourth quarter of 2017.

Sandvik Process Systems has been reported in Other Operations and the divested business will as of today be deconsolidated from Sandvik's financial statements.

After de-consolidation of Sandvik Process Systems, Other Operations will consist of Other Operations common costs and product area Hyperion.

Other Operations, pro-forma after deconsolidation of Sandvik Process Systems

MSEK          Q4 2016                  Q1 2017                    Q2 2017                     Q3 2017

Revenues     757                            802                           840                            802

Operating      63                              74                             32                              60
profit                                                       

For further information, contact Ann-Sofie Nordh, Vice President Investor Relations, tel: +46-8-456-1494 or Carina Aspenberg, Media and PR Manager, tel: +46-70-616-0119.

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SOURCE Sandvik