Sandvik has Signed an Agreement to Divest the Majority of Sandvik Drilling and Completions

SANDVIKEN, Sweden, Oct. 28, 2019 /PRNewswire/ — Sandvik has signed an agreement to divest the majority of Drilling and Completions (Varel), meaning the operations relating to the oil and gas industry to the private equity firm Blue Water Energy and its co-investor, the privately owned Nixon Energy Investments. Sandvik will remain a minority owner of 30% of the company and hold a position on the board.