Sandvik acquires manufacturing of cemented-carbide tools in Brazil

Sandvik acquires manufacturing of cemented-carbide tools in Brazil Sandvik, through its Tooling business area, has acquired a majority interest in the Brazilian company Hurth-Infer SA's manufacturing and sales of solid-carbide tools. The company is the leader in the field in Brazil and also has extensive service operations, including reconditioning of tools. A new company is being formed for the acquired operations, Sandvik Hurth- Infer SA, with Sandvik Tooling holding 80% of the shares and Hurth-Infer 20%. Sandvik has an option to acquire the 20% minority interest. Sandvik Hurth-Infer's sales amount to SEK 65 M annually, with 75 employees. The manufacture of solid-carbide tools is carried out in Sorocaba, west of Sao Paulo, and there are two service centers in the country. "The acquisition strengthens Sandvik's position in the rapidly expanding area of solid-carbide tools and we are now increasing our competitiveness significantly in special tools, an area in which the potential is particularly substantial," says Anders Thelin, President of the Sandvik Tooling business area and President of Sandvik Coromant. Sandviken, 16 May 2001 Sandvik AB; (publ) For further information, contact Anders Thelin, Sandvik Tooling +46 26 26 63 84. Sandvik is a high-technology engineering group with advanced products and world-leading positions in selected areas - tools for metalworking, machinery and tools for rock excavation, stainless steel, special alloys and resistance heating materials and process systems. The Group has 35,000 employees in 130 countries, with annual sales of approximately SEK 44 billion. Sandvik Tooling is a business area within the Sandvik Group, comprising Sandvik Coromant, Sandvik CTT and Sandvik Hard Materials. Annual sales are slightly more than SEK 15,000 M with 13,000 employees. The business area is a world-leading supplier of tools and tooling systems for metalworking applications as well as of blanks and components. Products are manufactured in cemented carbide, high-speed steel and other hard materials such as diamond and special ceramics. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/16/20010516BIT00060/bit0001.doc http://www.bit.se/bitonline/2001/05/16/20010516BIT00060/bit0002.pdf