Sandvik CTT expands in UK

Sandvik CTT expands in UK Sandvik CTT has reached an agreement with the UK based company Angus MacInnes & Co., Helensburgh, Glasgow, covering the takeover of sales and marketing of Prototyp's products in the UK. Prototyp is a company within Sandvik CTT that produces end mills, taps and other advanced tools in high-speed steel and solid carbide for metalworking. Customers are in the automotive, aviation, space and medical technology industries. "Acquisition of the operations from the former agent in the UK is part of the strategy to establish our own sales channels and to increase Prototyp's market shares in Europe," says Håkan Larsson, President of Sandvik CTT. Sandviken, 27 February 2001. Sandvik AB; (publ) For additional information, contact Håkan Larsson, Sandvik CTT, +46 35 16 53 01 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 CTT is a sector within Sandvik's Tooling Business Area and the world leader in high-speed steel tools for metalworking applications and is also expanding strongly in the area of solid-carbide tools. Annual sales amount to SEK 3,500 M, with 3,700 employees. Prototyp is one of Sandvik CTT's global brand names. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/27/20010227BIT00480/bit0003.doc http://www.bit.se/bitonline/2001/02/27/20010227BIT00480/bit0003.pdf