Sandvik AB, Stockholm, Sweden, has announced that the shares of Alleima, formerly Sandvik Materials Technology (SMT), have commenced trading on Nasdaq Stockholm. This marks the beginning of Alleima as a fully independent company after being part of Sandvik.
The name Alleima is said to combine two core aspects of the company – alloys and materials – with ‘alei’, an antiquated version of ‘alloy’.
“This is a historic day for our company and an important step to build for the future,” commented Göran Björkman, president and CEO of Alleima. “We are the result of nearly 160 years of collective minds, working together with our customers. Today Alleima is a world leader in its fields and a strong performer in its industry. As a standalone company, Alleima will have the right prerequisites to realise its full potential and the best possible conditions for growth and value creation.”
“I want to thank all our employees for the great work and the quality we deliver and our customers for their trust and the advancements we achieve together,” Björkman continued. “Even though our name is new, we will not forget our origins. We will continue to offer the same advanced high-quality products and services with the same expertise and solutions that our customers are used to.”
The Annual General Meeting of Sandvik AB decided on April 27, 2022, to distribute all shares of Alleima AB to the shareholders of Sandvik AB. Shareholders of Sandvik AB as per the record date August 29, 2022, have received one share in Alleima for every five shares held in Sandvik. The total number of outstanding shares in Alleima AB is 250,877,184. Alleima is listed on Nasdaq Stockholm under the ticker ‘ALLEI’.