Sandvik divests stainless wire business

Sandvik Materials Technology has signed an agreement to divest its stainless wire business to Zapp Group, a Germany-based, family-owned supplier of advanced metal products. This completes the full scope of the divestment plan for the welding and stainless wire operations, initially announced on May 17.

The deal includes the production unit in Sandviken, Sweden, and the global sales organization, along with selected trademarks and patents and about 145 employees.

Closing is expected in Q3 2018.