Sandvik divests division to Zapp Group
Sandvik’s business area Sandvik Materials Technology has agreed to divest its stainless steel wire business to Zapp Group, a German family-owned leading supplier of advanced metal products. The divested business includes the production unit in Sandviken, Sweden and the global sales organisation; in total approximately 145 employees, of which the majority in Sandviken. Revenues for the stainless wire business amounted to 310 million SEK in 2017.
Sandvik is represented by Mannheimer Swartling in the transaction.