SANDVIKEN, Sweden, August 21, 2003 (PRIMEZONE) -- Sandvik has reached an agreement with Eramet S.A., France, covering the sale of Sandvik's 49% holding in Eurotungstene Poudres S.A., France. As a result, Eramet, holding 51% of the shares in Eurotungstene Poudres S.A., will become the sole owner of the company. Eurotungstene Poudres S.A., with about 125 employees, is active in the production of cobalt- and tungsten-based powders primarily used in the diamond tools industry.
Sandviken, 21 August 2003
Sandvik AB; (publ)
For additional information please contact Anders Thelin, President of Sandvik Tooling Business Area, +46 26 26 63 84.
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 37,000 employees in 130 countries, with annual sales of approximately SEK 50,000 M.
Eramet is an integrated mining and metallurgical group that produces nickel, manganese, high performance special steels and alloys and high performance parts for industry. Focusing on the development of high value-added materials, the group has global leadership positions in all its business lines.
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