Wirenet Image Band
wirenet.org mobile image band

Sandvik unit separates from main group

In August, Sandvik Materials Technology separated from the Sandvik Group, was renamed Alleima™ and is now listed on the Nasdaq Stockholm Exchange as ALLEI.
Per an announcement from the company, “The name Alleima—a combination of the words alloy and materials—represents a fresh opportunity for growth and development in the global market. The Tube division represents nearly 70% of Alleima’s business, but it also makes long products, such as medical wire.

“While we are leaders in the stainless and special alloy sector in terms of both technology leadership and financial performance, we were a relatively small part of the Sandvik Group,” Alleima Company President Göran Björkman said. “As an independent company, the Alleima Board of Directors is fully focused on our activities, enabling us to deliver our strategy to grow profitably, and capital allocation will be much simpler. This move has energized our entire organization and instilled a strong sense of pride.”

Björkman said that the separation has not caused major changes for the company, customers or employees. There have been no changes in production or support service processes. Alleima continues to control the supply chain from R&D to primary melt to the final product, and there will be no changes or reductions in the product portfolio.

Read 347 times Last modified on December 5, 2022