Sandvik becomes part-owner of Endorsia e-business marketplace
Sandvik becomes part-owner of Endorsia e-business marketplace The Sandvik Group is one of five part-owners in Endorsia.com International AB, an e-business marketplace for industrial goods and services in Europe. The marketplace, which was previously wholly owned by SKF, offers quality products to distributors and end-customers from well-known industrial companies and simplifies purchasing and sales for all parties. Other owners in Endorsia are the companies INA Holding Schaeffler KG, Rockwell Automation, The Timken Company and SKF. Ownership is divided equally among the five companies. "Endorsia is an important complement to our other rapidly growing e- business solutions for distributors and end-customers," says Lars Pettersson, Executive Vice President, Sandvik AB. "Through cooperation within Endorsia, we can increase competitiveness and reach new customer groups. "Customers can utilize this e-business marketplace to quickly and effectively gain access to our advanced metalworking tools and tooling systems and our extensive service offering. Through Endorsia, Sandvik will market the well-known Sandvik Coromant, Dormer, Titex and Prototyp cemented-carbide and high-speed steel brands," says Lars Pettersson. Sandviken, 17 January 2001 Sandvik AB; (publ) For further information, contact Lars Pettersson, +46 26 26 36 28, and Arnfinn Fredriksson, Sandvik Coromant, +46 (0)70 642 48 24 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, stainless steel, special alloys, resistance heating materials and process systems. The Group has 34,000 employees at 300 companies in 130 countries, with annual sales of approximately SEK 40 billion. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/17/20010117BIT00520/bit0001.doc http://www.bit.se/bitonline/2001/01/17/20010117BIT00520/bit0002.pdf