The birth of a new company
The process to distribute the Sandvik Materials Technology business area as an independent listed company, called Alleima, was completed in 2022. The formation of the new, world-leading company will benefit both Alleima and Sandvik.
Alleima was listed on the Nasdaq Stockholm Stock Exchange on August 31, 2022. The name is a combination of the words alloy and material, two core strengths of Alleima.
The formation of Alleima will enable both Alleima and Sandvik to create even more value long-term. For the remaining Sandvik Group, the change will sharpen our focus on long-term profitable growth in our remaining areas: solutions for mining and rock excavation, rock processing, metal cutting and digital manufacturing.
The separation from Sandvik will provide Alleima with a clearer mandate to execute its strategy to focus on profitable growth and further strengthen its position as a world-leading manufacturer of advanced stainless steels, special alloys and heating systems for the most demanding industries. It gives Alleima an opportunity to be evaluated based on its own merits and business opportunities and not be compared with other business areas within Sandvik.
The expertise within Alleima will enable more efficient, more profitable and more sustainable processes, products and applications for its customers, advancing industries through materials technology.
Several trends combine to fuel growth for Alleima. The transition to a zero-carbon world, for example, requires renewable energy production and non-fossil fuels for transportation, as well as a shift from hydrocarbons to electricity in the manufacturing sector.
Registered shareholders of Sandvik were entitled to receive one share in Alleima for every five shares held in Sandvik.