Sandvik's acquisition of Svedala finalized
Sandvik's acquisition of Svedala finalized * Sales increase by SEK 1,400 M * Earnings per share rise as of 2002 * New business sector created within Mining and Construction The competition authorities have now granted approval for Metso Corporation of Finland to complete its acquisition of Svedala. As previously announced, this means that Sandvik is acquiring the operations of Svedala's crushing and screening unit in Sweden and France, with sales of about SEK 1,400 M and 900 employees. Sandvik is acquiring assets valued at SEK 550 M. In addition, Metso Svedala offers Sandvik a consignment stock valued at about SEK 300 M. The acquisition is assessed to provide a positive contribution to Group earnings as of 2002, with an operating margin on level with the average for the business area. Consolidation is from and including 1 October 2001. The operations form a new business sector, Sandvik Rock Processing, within Sandvik Mining and Construction. Nils-Evert Karlsson, formerly Senior Vice President Environment and President of Business Area Associated Products of the Svedala Group and President of Svedala-Arbrå is appointed President of the new business sector. He will be based in Svedala, Sweden. "Svedala's products complement our range and are aimed at the same customer group. Through a broader product assortment, we can now offer our customers a highly competitive total solution," says Anders Ilstam, President of Sandvik Mining and Construction. Sandviken, 11 September 2001 Sandvik AB; (publ) For additional information, contact Heléne Gunnarson, Vice President Group Communications, + 46 26 26 10 25. 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 Mining and Construction is a business area within the Sandvik Group and a world-leading supplier of drilling and excavation machinery, tools and service for the mining and construction industries. Annual sales amount to about SEK 10 billion, with nearly 7,000 employees. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/11/20010911BIT00440/bit0001.doc http://www.waymaker.net/bitonline/2001/09/11/20010911BIT00440/bit0001.pdf