Sandvik concludes major agreement for delivery of cladding tubes to Westinghouse
Sandvik Materials Technology has concluded a multi-year supply agreement for the delivery of cladding tubes in zirconium, valued at more than SEK 3 billion. Deliveries will take place over a number of years commencing in the first quarter of 2011.
The customer is Westinghouse, which Sandvik has worked closely with for many years, and the cladding tubes will be used in nuclear power plants worldwide.
As a result of the agreement, Sandvik’s Board of Directors has approved a significant expansion of production capacity for cladding tubes at Sandvik Materials Technology’s facility in Sandviken, Sweden.
“Sandvik offers a broad product program to the rapidly growing nuclear power industry. This delivery agreement for cladding tubes further strengthens our position as a supplier of advanced materials to this demanding market,” says Peter Gossas, President of the Sandvik Materials Technology business area.
Sandviken, 28 February 2011
Sandvik Aktiebolag (publ)
Sandvik AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13:00 CET. on 28 february 2011.
For further information, contact Peter Gossas, President of Sandvik Materials Technology business area,
+46 26 26 36 28 or Jan Lissåker, Vice President Investor Relations, Sandvik AB, +46 26 26 10 23
Sandvik Group
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. In 2010 the Group had about 47,000 employees and representation in 130 countries, with annual sales of nearly SEK 83,000 M.
Sandvik Materials Technology
Sandvik Materials Technology is a business area within the Sandvik Group and a world-leading manufacturer of high value-added products in advanced stainless steels, special alloys, titanium and other high-performance materials for the most demanding industries and applications.. Annual sales 2010 were about SEK 17,700 M with 9,100 employees. The product areas comprises Tube, Strip, Wire and Heating Technology, Process Systems and MedTech.
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