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Sandvik AB (SAND.ST)

SAND.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Sandvik aims to ink welding and stainless wire ops sale Q3 2017-Q1 2018
Wednesday, 17 May 2017 03:38am EDT 

May 17 (Reuters) - Sandvik Ab :Sandvik says expects sale of welding and stainless wire operations to be finalised in q3 2017-q1 2018 - spokeswoman.  Full Article

Sandvik aims to sell welding and stainless wire, books a SEK 450 mln charge in Q2
Wednesday, 17 May 2017 03:00am EDT 

May 17 (Reuters) - Sandvik AB :Sandvik materials technology intends to divest the welding and stainless wire businesses.Says in 2016 wire businesses, which are to be divested, generated total annual revenues of about SEK 700 million .Says Kanthal Wire for industrial heating etc to remain in Sandvik Materials Technology .Says a charge of SEK -450 million related to transaction will impact result for Q2 2017.Says this is primarily impairments related to fixed assets.Says cash flow impact from transaction is expected to be positive.  Full Article

Sandvik CEO says has lined up possible buyers for Mining Systems unit
Monday, 24 Apr 2017 08:00am EDT 

April 24 (Reuters) - Sandvik AB CEO Bjorn Rosengren in Q1 conference call::Sandvik CEO says continue to have a good order book for umbilicals.CEO says there is a strong underlying replacement demand in mining, says seeing strong quotation levels.CEO says has not seen any change in demand trend so far in Q2 within Machining Solutions unit.CEO says has two possible buyers of Mining Systems unit, each of which would buy part of the business.CEO says hopes to be able to close deal during Q2.  Full Article

Sandvik Q1 profit and orders top forecast, shares rise
Monday, 24 Apr 2017 07:30am EDT 

April 24 (Reuters) - Sandvik AB :Q1 operating profit 3,507 million SEK.Q1 order intake 24,916 million SEK.Reuters poll: Sandvik Q1 order intake was seen at 22,775 million SEK, EBIT at 3,170 million.Sandvik sees a neutral impact on operating profit in Sandvik Materials Technology for the second quarter of 2017 due to metal price effects.Says organic growth in order intake was 16% compared with the year-earlier period, supported by all business areas.Says growth was particularly strong in Sandvik Mining and Rock Technology, driven primarily by equipment replacement orders, with also Sandvik Machining Solutions achieving a double digit increase in orders.Says it is estimated that operating profit for the second quarter of 2017 will be impacted by transaction and translation currency effects of about +400 million SEK.Sandvik shares up 3.6 pct following report, was up 1.7 pct ahead of release. .  Full Article

Sandvik appoints Coromant chief Forsstrom as new head of Machining Solutions unit
Wednesday, 15 Mar 2017 03:00am EDT 

Sandvik AB : Sandvik appoints new head of business area Sandvik Machining Solutions . Says Klas Forsstrom has been appointed new president for Sandvik's business area Sandvik Machining Solutions and member of group executive management .Forsstrom is currently the President of Sandvik Coromant.  Full Article

Sandvik CEO says has no plans at present to list SMT unit
Wednesday, 1 Feb 2017 02:42am EST 

Sandvik AB in Q4 media conference call: Sandvik CEO says expects positive development of demand in mining to continue in near term . CEO says is reviewing SMT unit but have no plans at present to list the unit, no advisors appointed Further company coverage: [SAND.ST] ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;)).  Full Article

AlphaHelix: Örebro University with Techtum as technical cooperation partner
Thursday, 25 Aug 2016 08:52am EDT 

AlphaHelix Molecular Diagnostics publ AB : Örebro University with Techtum as technical cooperation in major research project . Örebro University has received 11 million Swedish crowns ($1.31 million) from KK-stiftelsen for research .Örebro University has four companies as cooperation partners in the project; among others Techtum Lab and Sandvik.  Full Article

Sandvik CEO says U.S. market most challenging
Monday, 18 Jul 2016 08:12am EDT 

Sandvik CEO Bjorn Rosengren in conference call: Sandvik CEO says not seeing any change in overall investment climate from recent recovery in oil prices . Sandvik CEO says U.S. market remains the most challenging one, more stable in Europe, Asia . Sandvik CEO says recapitalising Mining Systems as part of sale . Sandvik CEO says inserts demand early in Q3 has continued as in Q2 Further company coverage: [SAND.ST] (Reporting by Johannes Hellstrom) ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;)).  Full Article

Sandvik divests Mining Systems unit to private equity firm CoBe
Monday, 18 Jul 2016 07:32am EDT 

Sandvik AB : Says to divest its mining systems operations, reported in Sandvik income statement as discontinued operations, to private equity company CoBe capital . Says closing of transaction is expected during Q4 of 2016 . Says parties have agreed not to disclose purchase price . Says transaction entails a capital loss of -800 million SEK impacting result of Sandvik's discontinued operations for Q3 of 2016 . Says capital loss includes a negative cash flow impact of -600 million SEK, primarily in conjunction with closing of deal . Says Sandvik will maintain ownership of ongoing projects which are close to finalization . "Divesting the Mining Systems is an important step in consolidating Sandvik to its core operations, which for Sandvik Mining and Rock Technology is high technology mining equipment and aftermarket offerings," Sandvik CEO Bjorn Rosengren said in a statement Further company coverage: [SAND.ST] (Reporting by Oskar von Bahr) ((Oskar.vonBahr@thomsonreuters.com;)).  Full Article

Sandvik Q2 operating profit tops forecast
Monday, 18 Jul 2016 07:30am EDT 

Sandvik Ab : Sandvik AB Q2 revenues (continuing operations) SEK 20,321 mln vs year-ago 22,200 mln . Q2 order intake (continuing operations) SEK 19,869 mln vs year-ago 21,766 mln . Q2 operating profit (continuing operations) SEK 2,705 mln vs year-ago 2,977 mln . Reuters poll: Sandvik Q2 order intake was seen at SEK 20.0 bln, operating profit at 2.55 bln, revenues at 20.2 bln . Says customers’ order activity was generally cautious in the second quarter, . Says somewhat higher activity among nuclear customers was noted . Says underlying customer activity in the mining segment remained largely stable overall, with order intake for equipment declining slightly on tough comparables . Says mining order intake for the aftermarket remained unchanged .Says order cancellations of about SEK 90 million were received in SMT due to customers re-prioritizing amongst ongoing projects, as well as geo-political reasons.  Full Article

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