Sandvik Sells Sandvik Medical Solutions For Undisclosed Sum
February 24 2012 - 2:45AM
Dow Jones News
Swedish engineering company Sandvik AB (SAND.SK) Friday said it
has reached an agreement to sell Sandvik Medical Solutions to
Orchid Orthopedic Solutions, owned by Altor Fund III, for an
undisclosed sum.
Sandvik last year announced its intention to sell the unit,
which makes medical implants and instruments for orthopedic and
dental applications.
"The divestment of Sandvik Medical Solutions is in line with our
strategy to exit operations outside of the defined core
businesses," Anders Thelin, president of Sandvik's Venture business
area.
Sandvik said the divestment of the business--which employs
around 550 people in the U.S. and the U.K. and had sales of around
SEK600 million or $90 million last year--is expected to be
concluded in March 2012.
At 0808 GMT Sandvik shares traded 0.5% higher at SEK103.30.
-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097;
katarina.gustafsson@dowjones.com
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