Höganäs acquires

HÖGANÄS ACQUIRES SPECIALTY POWDER MANUFACTURER IN UK Höganäs has made an agreement with Wilshaw PLC, UK, to acquire the assets of Wilshaw's subsidiary Powdrex Ltd. Powdrex is the world's leading manufacturer of unique high-speed steel powders, which are used principally for hardfacing valves and valve seats in vehicle engines. Powdrex' product range represents an important complement to the products made by Höganäs' Coldstream Division. The acquisition is a step in the Coldstream Division's growth strategy. It will provide Höganäs with significant knowledge that can be applied in related development projects, while transfer of Höganäs' process know-how will further enhance the efficiency of Powdrex' operations. Powdrex recorded turnover was for year end 31 March 2000 more than 4.0 MGBP (55 MSEK). Powdrex has about 35 employees. The purchase price amounts to 8 MGBP (108 MSEK). Höganäs, 20 July 2000 Claes Lindqvist President and Chief Executive Officer ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/07/20/20000720BIT00490/bit0001.doc http://www.bit.se/bitonline/2000/07/20/20000720BIT00490/bit0002.pdf