SANDVIKEN, Sweden, August 13, 2003 (PRIMEZONE) -- Sandvik Mining and Construction (Other OTC:SDVKF) has reached an agreement in principle to divest two units in the US.
- EIMCO LLC, Bluefield, West Virginia, product line continuous coal-mining equipment, with annual sales of about SEK 400 M.
- The Chemical Products Division (CPD) within Sandvik MGT LLC, Bristol, Virginia. CPD produces Mine Bolt Resin, a chemical grouting material to secure ceiling bolts in mines, with annual sales of about SEK 100 M.
The buyers are DBT (Deutsche Bergbau-Technik) and Minova (USA) Inc., respectively.
For additional information, contact Anders Ilstam, President of Sandvik Mining and Construction, +46 26 26 51 04.
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 as well as process 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 for the mining and construction industries. Annual sales amount to SEK 14,000 M, with about 8,600 employees. Established brands are Sandvik, Tamrock, Toro, Rammer, EJC, Voest-Alpine, Eimco, Driltech, Roxon, Mission and Sandvik Smith etc.
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