Seco Tools strengthens its position in growth area

SECO TOOLS STRENGTHENS ITS POSITION IN GROWTH AREA Seco Tools is one of the world's leading producers of cemented-carbide tools for chipforming machining operations. The company's aim is to achieve continued growth through expansion into new product areas and niche markets. As part of this expansion strategy, Seco Tools has signed an agreement to acquire 100 percent of the shares in the Dutch company Jabro Tools, located in Lottum, Netherlands. Jabro Tools, which also has operations in the US, has sales of SEK 140 M, with 120 employees. Jabro is among the leading companies in the product area solid-carbide end mills - a fast-growing area primarily focused on the aviation and die and mold industries. Through this acquisition, Seco Tools will be able to expand its product offering to customers, thereby strengthening its competitiveness in serving the above-mentioned customer segments. The acquisition is expected to make a positive contribution to earnings per share as from 2003. The purchase is subject to approval by the relevant authorities. Fagersta, Sweden, December 18, 2001 SECO TOOLS AB; (publ) For additional information, please telephone Lars Renström, President and CEO, tel. +46 223-401 10, or Stefan Sjödahl, Group Controller, tel. +46 223- 401 32. E-mail may be sent to: investor.relations@secotools.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/12/18/20011218BIT00100/bit0002.doc http://www.waymaker.net/bitonline/2001/12/18/20011218BIT00100/bit0002.pdf

About Us

Seco Tools develops and produces tools for metalwork.

Subscribe