Sandvik and German engineering company DEPO agree that DEPO should stay independent

Sandvik and German engineering company DEPO signed an agreement on 22 September 2004 under which DEPO were to become a member of the Sandvik Group by 2 January 2005. Sandvik and DEPO are both of the opinion that in the given market conditions it is more favorable if DEPO continues to be run by the current owner Heinz Deitert and his management team. Accordingly, Sandvik and DEPO have mutually decided not to go ahead with the transaction. Sandvik and DEPO will continue their business relation as previously. Sandviken, 22 February Sandvik AB; (publ) For additional information, please contact Anders Thelin, President Sandvik Tooling, +46 26 26 63 84.

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Sandvik Group Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2019, the Group had approximately 40,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.

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