SANDVIKEN, Sweden, Aug. 5, 2004 (PRIMEZONE) -- "Sandvik's growth in the second quarter was strong. Order intake and invoicing were at the highest level ever in a specific quarter as well as profit after net financial items, which rose 40 percent to SEK 1,664 M. Higher volumes, increased productivity and rationalization measures resulted in a sharp increase in operating profit.
"Activity was high in all business areas and in all major markets, particularly in the NAFTA area, in which Sandvik's order intake rose 31 percent. It is also pleasing to note that demand in Europe developed positively. As a result of increased market shares combined with the improved industrial business climate, Sandvik had very favorable organic growth during the quarter," says Sandvik's President and CEO Lars Pettersson.
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