Sandvik revises Additive Manufacturing strategy, to exit BEAMIT
September 30, 2024
Sandvik AB, based in Stockholm, Sweden, has announced a revised Additive Manufacturing strategy, with its focus returning to metal powder production. As a result, it has announced the decision to exit its minority stake (approximately 30%) in the Italian Additive Manufacturing service provider BEAMIT. Sandvik has been a shareholder in BEAMIT since 2019. As part of a wider strategic shift, the engineer-to-order business of DWFritz Automation (DWFritz) has also been divested.
Charges totaling approximately SEK 390 million will be accounted for in the third quarter and reported as items affecting comparability. Out of the total charges, approximately SEK 250 million relates to a capital loss, including transactional costs, from the divestment of DWFritz, and about SEK 140 million relates to a write-down of the stake in BEAMIT.
Sandvik has sold DWFritz’s engineer-to-order business to the US-based private equity firm Balmoral Funds. It bought DWFritz in 2021 to expand its ZeroTouch business. The ZeroTouch platform is a unique inspection gauging equipment that enables near-line and in-line metrology and is an important part of Sandvik’s closed-loop strategy. Since acquiring DWFritz, Sandvik has developed and started to commercialise ZeroTouch. ZeroTouch will not be part of the divestment but will remain a part of Sandvik.
DWFritz and the BEAMIT holding were part of the Sandvik Manufacturing and Machining Solutions business area.
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