Sandvik divests its interest in Procera-Sandvik AB
Sandvik divests its interest in Procera-Sandvik AB Sandvik has reached an agreement with Nobel Biocare covering the divestment of its 50%-interest in the dental technology company Procera-Sandvik AB to Nobel Biocare. The parties has agreed not to disclose the sales price but the transaction is expected to yield a capital gain to Sandvik amounting to about SEK 300 M. In addition, Sandvik will receive an annual compensation based on the sales of the Procera products to and including 2012. In accordance with the agreement, Sandvik will also continue to contribute technical expertise and support. The divestment is being made against the background that extensive resources are required for marketing and expansion of the sales organization to ensure continued successful development. Through Procera- Sandvik AB being integrated in its entirety within Nobel Biocare and through the combined organization, it gains access to substantially greater resources for cultivating the entire dental market. Sandvik AB and Nobel Biocare AB formed the jointly owned company Procera- Sandvik in 1992 for the development and production of individually-made ceramic dental crowns. Sandviken, 3 January 2002 Sandvik AB; (publ) For further information, contact Peter Larson ExecutiveVice President and CFO Sandvik AB, tel +46 26 26 10 60. 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. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/01/03/20020103BIT00450/bit0001.doc http://www.waymaker.net/bitonline/2002/01/03/20020103BIT00450/bit0001.pdf