Sandvik expands cemented-carbide plant in Mexico

Sandvik expands cemented-carbide plant in Mexico Sandvik has decided to invest about SEK 40 M in an extension of Sandvik Hard Materials' cemented-carbide plant in Mexico City. The investment will increase production capacity in several rapidly growing product areas. The production covers cemented-carbide microdrill blanks for the electronics industry and solid-carbide rods used in the automotive, aerospace and die and mould industries. For many years, the plant in Mexico also manufactures cemented-carbide blanks for balls in ballpoint pens, which is another growth area. The number of employees will increase by about 20 as a result of the investment. "Through this decided expansion in Mexico and the earlier expansion carried out at the cemented-carbide plant in Coventry, England, we are continuing with the successful strategy to focus operations on customer segments that have a higher growth rate than the industry average. We are well-positioned to meet the expected sharp increase in demand in the immediate years ahead," says Sven Flodmark, President of Sandvik Hard Materials. Sandviken, 23 February 2001 Sandvik AB; (publ) For further information, contact Sven Flodmark, President of Sandvik Hard Materials, telephone +46 8 726 63 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 Hard Materials is a sector within Sandvik's Tooling business area and is active in the full spectrum of hard materials, ranging from cemented carbide to diamond, including special ceramics for applications in biotechnology. Sandvik Hard Materials is a world leader in such product areas as cemented-carbide blanks for tool manufacturers, components for the engineering industry and advanced cutting and forming tools for other industries. Annual sales are approximately SEK 1,800 M with 1,400 employees. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/23/20010223BIT00360/bit0002.doc http://www.bit.se/bitonline/2001/02/23/20010223BIT00360/bit0002.pdf