Sandvik Materials Technology to divest power spring business in U.S. and Mexico
Sandvik Materials Technology is divesting its power spring business in Scranton, Pa., and Nogales, Mexico, to Sweden-based Lesjöfors AB, a subsidiary of Beijer Alma and manufacturer of industrial springs, wire, and flat strip components.
“This divestment is in line with Sandvik Materials Technology’s strategy to focus more towards the energy segment and applications related to energy efficiency, and exit businesses considered non-core,” said Petra Einarsson, president of Sandvik Materials Technology.
The transaction is expected to be finalized by the end of 2014.
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