Advent does not purchase Sandvik€s sorting operations

Advent does not purchase Sandvik's sorting operations Sandvik reached an agreement in February this year with the American investment company Advent International Corp. covering the sale of the operations within Sorting Systems, part of the Sandvik Process Systems business sector. The divestment would have had a marginal effect on earnings for Sandvik. Despite a binding agreement between the parties, it is now clearly apparent that Advent is not going to complete the transaction. Accordingly, Sandvik has sued Advent in the US. Sandvik will continue with its sorting operations in Europe and Japan as previously. However, as a result of the situation which has arisen an immediate restructuring is required in the US, where operations have been focused on very large projects.The intention is that the US operations in the future will comprise solely sales of service, spare parts and components as well as license sales. After completion of these measures, sales for all remaining sorting operations are estimated to amount to SEK 600-700 M annually. Sandviken, 18 June 1999 Sandvik AB; (publ) For further information, contact: Leif Sunnermalm, Executive Vice President, Sandvik AB, +46 26 26 10 60 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/06/18/19990618BIT00390/bit0001.doc http://www.bit.se/bitonline/1999/06/18/19990618BIT00390/bit0002.pdf