Sandvik: Sandvik acquires Australian company Shark Abrasi...

Sandvik acquires Australian company Shark Abrasion Systems Sandvik has reached an agreement to aquire Shark Abrasion Systems Ltd, a company based in Perth, Australia. Shark is a market-leading company in development and production of wear parts for underground loader buckets. Currently, Sandvik is the exclusive distributor of these products. Through synergies, the acquisition provides the conditions for continued growth through strengthened research and development and access to Sandvik's global sales organization. In 2006, Shark had sales of approximately SEK 70 M (AUD 12 M), with 10 employees. The operation will be consolidated into the Sandvik Mining and Construction business area from 17 January 2007. "The acquisition is in line with Sandvik's long-term strategy for profitable growth. Through the acquisition, we intend to develop a global business for these products. In addition, it broadens Sandvik's offering to the global aftermarket," says Lars Josefsson, President of Sandvik Mining and Construction. Sandviken, 17 January 2007 Sandvik AB, (publ) Further information can be obtained from Lars Josefsson, President, Sandvik Mining and Construction, +46 (0)26-26 51 51 or Jan Lissåker, Vice President Investor Relations, Sandvik AB, tel +46 (0) 26-26 10 23. 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 39,000 employees, operations in 130 countries and annual sales of approximately SEK 63,000 M. Sandvik Mining and Construction is a business area within the Sandvik Group and a world-leading manufacturer of drilling and excavation machinery, tools and service for the mining and construction industries. Annual sales amount to SEK 20,600 M, with about 10,600 employees. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://wpy.waymaker.net/client/waymaker1/f.aspx?id=359386&fn=wkr0001.pdf