SANDVIKEN, Sweden, August 05, 2003 (PRIMEZONE) -- Lars Josefsson has been appointed President of the Sandvik (Other OTC:SDVKF) Mining and Construction business area and a member of Group Executive Management, effective 1 January 2004. Lars, 50, with a M.Sc. Eng. degree, is currently President of the power generation company ALSTOM Sweden, with 3,000 employees and annual sales of SEK 7,000 M. He has experience from various executive positions within ABB STAL and ABB.
Anders Ilstam, who has been President of the Sandvik Mining and Construction business area since 1998 and a member of Group Executive Management, has been appointed Executive Vice President of Sandvik AB, effective 1 January 2004.
Sandviken 5 August 2003
Sandvik AB; (publ)
For additional information, contact Lars Pettersson, President and CEO, Sandvik AB,+46 26 26 10 02
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, metallic and ceramic resistance materials as well as process systems and sorting systems. The Group has 37,000 employees in 130 countries, with annual sales of approximately SEK 50,000 M.
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 to the mining and construction industries. Annual sales amount to about SEK 14,000 M, with approximately 8,600 employees. Well-established brands are Sandvik, Tamrock, Toro, Rammer, EJC, Voest- Alpine, Eimco, Driltech, Roxon, Mission, Sandvik Smith etc.
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