SDVKY Sandvik AB (PK)

   By Dominic Chopping 
 

STOCKHOLM--Sweden's Sandvik AB (SAND.SK) said Thursday that a series of one-off costs associated with efficiency measures and impairments will hit fourth quarter results by 1.55 billion Swedish kronor ($184 million).

The engineering company has announced a further round of structural efficiency measures that includes reducing the number of production units and making changes to its supply chain, which it expects will generate annual savings of about SEK600 million.

Of the total SEK1.55 billion costs, impairment losses account for SEK975 million and mainly relate to weaker than expected performance in parts of its China operations, the company said.

Shares closed Wednesday at SEK79.40.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @domchopping @WSJNordics

(END) Dow Jones Newswires

December 10, 2015 02:40 ET (07:40 GMT)

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