Sandvik will close down its Italian stainless wire drawing plant. The company’s unit in Kanthal has unit in Italy has "had a weak financial situation for some years.” Many customers have moved to more profitable and low cost regions like Eastern Europe and India. The plants heating wire operations will be moved to other units in the group. The Kanthal facilities will be sold to any interested parties. The closure will affect 90 employees. Sandvik said that the wire drawing business is not a core business for the company anymore. (Mar. 12)