Note 34. Events after the close of the period
On 14 January 2020, Sandvik completed the previously announced acquisition of Summerill Tube Corporation, a manufacturer of high precision tubes. Summerill Tube Corporation is headquartered in Pennsylvania, USA, and generated revenues of about 100 million SEK with 45 employees in 2018. The deal has a limited impact on earnings per share from the start.
On 1 February 2020, Stefan Widing assumed the position as CEO and President of Sandvik.
The divestment of the majority of Sandvik Drilling and Completions (Varel) is expected to be finalized early March 2020.