Sandvik expands in the US

Sandvik expands in the US Sandvik Coromant is investing approximately SEK 100 M in an expansion of tool production at the plant in Mebane, North Carolina, in the US. This will result in a doubling of capacity and a strengthened market position. The plant in Mebane produces holders for cemented-carbide tools for the American market and Sandvik Coromant's complete range of holding tools is produced there today. Upon completion of the expansion, the plant will also become the global supplier to the various central warehouses worldwide. A Training Center will also be established at the plant and will feature advanced technical equipment for training of customers, Sandvik personnel and distributors. "This investment in increased capacity further strengthens our presence in the US and is an important step in our expansion within the NAFTA region," says Anders Thelin, President of Sandvik Coromant. Sandviken, 18 September 2000 Sandvik AB; (publ) For additional information, contact: Anders Thelin, Sandvik Coromant, +46 26 26 63 84. 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, products in stainless steel, special alloys and high-temperature materials. The Group has 34,000 employees at 300 companies in 130 countries and annual sales of about SEK 40 billion. Sandvik Coromant is a business sector within the Sandvik Group and a world- leading producer of advanced cemented-carbide tools and tooling systems for metalworking. Annual sales amount to about SEK 8,400 M, with 7,500 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/2000/09/18/20000918BIT00790/bit0001.doc http://www.bit.se/bitonline/2000/09/18/20000918BIT00790/bit0002.pdf