By Ian Walker

Swedish engineering group Sandvik AB (SAND.SK) said Tuesday it plans to consolidate its businesses into three areas, giving it full ownership and accountability in each, to improve long-term efficiency.

Sandvic said it will move Wolfram and two selected production sites from Sandvik Hyperion into Sandvik Machining Solutions. It will also move Sandvik Drilling and Completions into Sandvik Mining and Rock Technology.

The company said it identified Sandvik Process Systems and Sandvik Hyperion as non-strategic operations.

The new structure will be effective July 1, the company said.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

May 03, 2016 08:40 ET (12:40 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Sandvik AB (PK) (USOTC:SDVKY)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024 Click aqui para mais gráficos Sandvik AB (PK).
Sandvik AB (PK) (USOTC:SDVKY)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024 Click aqui para mais gráficos Sandvik AB (PK).