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The Sandvik AB 2022 Annual General Meeting has decided to distribute all shares in its wholly-owned subsidiary Alleima (former business area Sandvik Materials Technology, or SMT) to the shareholders of Sandvik. The first day of trading in the Alleima shares is expected to be August 31, 2022, on NASDAQ Stockholm.
The separation from Sandvik is expected to provide Alleima with a clearer mandate to execute its strategy to drive growth, materials innovation, operational and commercial excellence and sustainability. Alleima as a standalone listed company will be able to further strengthen its position as a manufacturer of advanced stainless steels, special alloys and heating systems for an array of industries.
As Alleima, the company intends to expand in several high-growth segments, including medical. In orthopedics, for example, the company offers Sandvik High-N, a molybdenum and nitrogen alloyed austenitic stainless steel, used for implants and fracture fixation devices.
The name Alleima combines two core strengths of SMT’s business – alloy and material – with alei, an old version of the word alloy, as the foundation.
“Alleima captures the core of what we do, our history and our unique capabilities in a great way. We believe it will serve us very well going forward as a standalone company, and enable us to evolve our current leading position in materials technology into a market leader for the advanced materials for the future,” said Andreas Nordbrandt, Chairman of the SMT Board of Directors and Göran Björkman, President of SMT.
Source: Sandvik
