Sandvik Process Systems to exit its Laminates business
Sandvik Process Systems has decided to exit the product line Laminates (belts & plates with surfaces for wood based Laminates applications) in Ennepetal, Germany, due to lack of profitability. Following this, certain assets will be sold to Berndorf Band and Hueck Rheinische.
“The exit of the laminates business is well in line with Sandvik Process Systems strategy to focus on attractive segments, and exit businesses considered non-core” says Henrik Furhoff, President of Sandvik Process Systems.
BERNDORF BAND as well as HUECK RHEINISCHE are strongly committed to develop the business further and invest in their technologies for the benefit of their customers in the wood and laminate industry.
The transaction is depending on normal legal and regulatory approvals and is expected to be finalized during third quarter 2016