Sandvik Considers Further Production Footprint Consolidation
January 20, 2020 at 06:30 pm IST
Sandvik Machining Solutions has decided to review the potential closure of a production plant for round tools within the Walter division in Frankfurt, Germany. Production volumes would be transferred to other units within Sandvik Machining Solutions. The envisaged closure would be expected to be finalized by mid-2021 with full run-rate of net savings of about SWK 110 million. Costs related to the restructuring, amounting to about SEK 365 million, will impact Sandvik Machining Solutions' operating profit in the first quarter of 2020, with the majority impacting cash flow.