Sandvik Targets Listing of Materials Technology Unit on Aug. 31
24 March 2022 - 7:26PM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish engineering group Sandvik AB said late
Wednesday that its previously announced plans to distribute its
Sandvik Materials Technology unit to Sandvik shareholders will see
the company's shares listed on the Nasdaq Stockholm Exchange on
Aug. 31.
"We are convinced that this will increase long-term shareholder
value, and that both Sandvik and Sandvik Materials Technology can
develop more favorably on their own," Sandvik Chairman Johan Molin
said.
Sandvik also said it has decided that Alleima will be the new
name of Sandvik Materials Technology, pending shareholder approval
of the listing.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
March 24, 2022 04:11 ET (08:11 GMT)
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