Sandvik acquires South African supplier to exploration industry

Sandvik acquires South African supplier to exploration industry

Sandvik has entered an agreement covering the acquisition of the South African
company Corstor International (Pty) Ltd. 

Corstor is a leading company within the manufacture and sale of borehole core
storage and handling systems for the mining and exploration industries. Corstor
also distributes analysis and survey equipment as well as accessories to the
mining and exploration industries in Africa. 

Sales amount to approximately SEK 70 M per year and the company has 100
employees. The head office and the largest production plant is located outside
Johannesburg, South Africa. The company also has sales and service offices in
Ghana and Tanzania. 

“Corstor is innovative within the design and development of systems for the
storage and handling of borehole cores. The customer offering comprises advanced
systems for the storage of borehole cores and includes equipment to analyze
cores in an environmentally conscious and safe manner. The products are an
excellent complement to the business area's range aimed at the rapidly expanding
exploration industry,” says Lars Josefsson, President of the Sandvik Mining and
Construction business area. 

“The increase in exploration activities in Africa entails favorable growth
opportunities for Sandvik combined with the potential to expand in other markets
through Sandvik's global network.”

The acquisition is subject to approval by the relevant competition authorities
in South Africa and is expected to be concluded during the first quarter of
2008.


Sandviken, 22 January 2008

Sandvik AB; (publ)


For further information, contact Lars Josefsson, President of Sandvik Mining and
Construction business area, tel: +46 26 26 51 51 or Jan Lissåker, Vice
President, Investor Relations, Sandvik AB, tel: +46 26 26 10 23.                

Sandvik is a global industrial group with advanced products and world-leading
positions in selected areas - tools for metal cutting, machinery and tools for
rock excavation, stainless materials, special alloys, metallic and ceramic
resistance materials as well as process systems. The Group had at the end of
2006 about 42,000 employees and representation in 130 countries, with annual
sales of more than SEK 72,000 M.

Sandvik Mining and Construction is a business area within the Sandvik Group and
a leading global supplier of machinery, cemented-carbide tools, service and
technical solutions for the excavation of rock and minerals in the mining and
construction industries. Annual sales in 2006 amounted to about SEK 25,000 M,
with approximately 12,200 employees.