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
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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Sandvik completes the divestment of Sandvik Process Systems