Sandvik has sold its 10% minority holding in Xiamen Golden Egret Special Alloy Co Ltd, a Chinese joint venture originally formed in 2005.

The company divested its holding to Xiamen Tungsten Co Ltd, the majority owner of the joint venture, for around SEK 0.7 billion (CNY 0.49 billion), based on current exchange rates.

This story uses material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.