Sandvik Process Systems makes high-end steel belts, steel-belt equipment and related components. The unit generated revenues of about US$196 million in 2016, approximately 2% of the Swedish company’s overall revenue. 

“This is an important step in focusing Sandvik on its core businesses. The divestment creates additional capacity for growth and expansion of the core business of Sandvik,” said Sandvik president and chief executive Björn Rosengren in a statement. 

The deal is expected to close sometime by early 2018.