CGEMY Capgemini SE (PK)

    By Dominic Chopping 
 

STOCKHOLM--Swedish engineer Sandvik AB (SAND.SK) said Thursday it will outsource certain financial processes that will likley lead to redundancies, though the number of employees affected and the timing of any such job losses aren't yet known.

 
   MAIN FACTS: 

-CFO Emil Nilsson, says: "We need to be flexible and scalable to position ourselves for future growth...Sandvik has signed a 5-year contract with Capgemini (CAP.FR) to handle the transactional finance rule-based and repeatable processes which will enable us instead to focus on crucial business support."

-The new model will be implemented during 2013-2015 in 29 countries and involves all Sandvik's Business Areas.

-Shares closed Wednesday at SEK99.25, valuing the company at SEK124.5 billion.

-Write to Dominic Chopping at dominic.chopping@dowjones.com; Twitter: @DowJonesNordics

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