Sandvik Coromant expands in solid carbide

Sandvik Coromant expands in solid carbide A new plant for the production of solid-carbide tools has been placed in operation in Gimo, Sweden by Sandvik Coromant. The new facility is part of a long-term investment program, expected to total approximately SEK 250 M, in this product area at the Gimo plant. The solid-carbide product area is growing rapidly, due to the availability of faster and more efficient machine tools, combined with the use of new materials that are difficult to machine and the ever-increasing productivity requirements from customers worldwide. There are plans to further expand capacity in this product area during the next few years. Marketing activities include the launch of a number of advanced new products. It will also be possible for customers to order tailor-made tools directly via the Internet. "As a result of the investments in Gimo, we will have the entire production process for solid-carbide tools, from raw materials to finished product, within a single plant. This will lead to further improvements in product quality, while also strengthening our competitiveness," comments Anders Thelin, President of Sandvik Coromant. Sandviken, 6 December 2000 Sandvik AB; (publ) For further information, contact Anders Thelin, President of Sandvik Coromant, telephone +46 26 26 63 84. Sandvik is a high-technology engineering group with advanced products and world-leading positions in selected niches - tools for metalworking, machinery and tools for rock excavation, stainless steel, special alloys and resistance heating materials and process systems. The Group has 34,000 employees at 300 companies in 130 countries, with annual sales of approximately SEK 40 billion. Sandvik Coromant is a business sector within the Sandvik Group and the world-leading manufacturer of advanced cemented-carbide tools and tooling systems for metalworking. Sales in 1999 amounted to about SEK 8,400 M, with 7,500 employees. The Gimo plant is Sandvik Coromant's largest production facility and one of the foremost of its type in the world. The plant has about 1,600 employees. Some 140 persons were newly employed during the past year. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/12/06/20001206BIT00570/bit0001.doc http://www.bit.se/bitonline/2000/12/06/20001206BIT00570/bit0002.pdf

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Sandvik Group Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2016, the Group had approximately 43,000 employees and sales of 82 billion SEK in more than 150 countries within continuing operations.

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