Sandvik acquires German steel belt manufacturer

Sandvik acquires German steel belt manufacturer Sandvik Process Systems has reached an agreement with Vereinigte Deutsche Nickelstahlwerke covering the acquisition of the German company Hindrichs- Auffermann Metallverarbeitungs GmbH located outside Wuppertal, Germany. The company holds a strong position in the area of textured press plates and press belts of steel used in the production of laminates and in laminating of wood- based panels, an area assessed to have major growth potential. Annual sales amount about SEK 120 M, with 70 employees. "This acquisition broadens our product range of advanced products and further enhances our position as a global leader in steel belt technology," says Svante Lindholm, President of Sandvik Process Systems. Sandviken, 4 October 2000 Sandvik AB; (publ) For further information, contact Svante Lindholm, +46 26 26 56 01. Sandvik is a high-technology engineering group with advanced products and a world-leading position in selected niches; tools for metalworking, machinery and tools for rock excavation, products in stainless steel, special alloys, high-temperature materials and process systems. The Group has 34,000 employees at 300 companies in 130 countries and annual sales of about SEK 40 billion. Sandvik Process Systems is a business sector within the Group that develops, manufactures and markets steel belts and process plants and sorting systems based on steel belt conveyors. Annual sales are approximately SEK 1,500 M, with 700 employees. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/04/20001004BIT00540/bit0001.doc http://www.bit.se/bitonline/2000/10/04/20001004BIT00540/bit0002.pdf