Sandvik to divest Hyperion
Sandvik has signed an agreement to divest Hyperion to U.S. investment firm KKR. Hyperion, which has about 1,400 employees, delivers wear-resistant tools, applications, and components in hard and superhard materials.
"I'm pleased that we have found a new owner who will support Hyperion's continued development. This agreement is an important step in focusing Sandvik on its core businesses. The divestment creates additional capacity for growth and expansion for the core business of Sandvik,” said Björn Rosengren, president/CEO of Sandvik.
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