Sandvik transfers rock-drilling production to Sweden

Sandvik transfers rock-drilling production to Sweden Sandvik's Mining and Construction business area has decided to close its unit for the manufacturing of down-the-hole drilling tools in Mexico, with about 60 employees, and transfer the operations to Sandvik Tamrock Tools' rock-drilling plant in Sandviken, Sweden, which already produces similar tools. Prior to the transfer, which will be made during 2001, about SEK 25 M will be invested in new machinery and new technology at Sandviken. The increased production will create some 20 new full-time positions and about 10 temporary jobs. "This measure is a step in our strategy to create fewer and larger production units and, as a result, to increase productivity and further improve competitiveness," says Anders Ilstam, President of Sandvik Mining and Construction. Sandviken, 20 February 2001 Sandvik AB; (publ) For further information, contact Anders Ilstam, Sandvik Mining and Construction, +46 26 26 51 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 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 BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/20/20010220BIT00690/bit0001.doc http://www.bit.se/bitonline/2001/02/20/20010220BIT00690/bit0001.pdf