Sandvik and Carpenter Technology to establish cooperation in the field of powder technology

Sandvik and Carpenter Technology to establish cooperation in the field
of powder technology

Sandvik Materials Technology has decided to establish a strategic
partnership with Carpenter Technology Corporation to further strengthen
its position in the field of powder technology and advanced materials.
As part of the arrangement, Sandvik AB will acquire 40% of the shares in
Carpenter Powder Products AB and Carpenter Technology Corporation will
acquire 40% of the shares in Sandvik Powdermet AB.
Carpenter Powder Products AB manufactures high-alloy powder and is
already one of Sandvik Powdermet AB's suppliers. The joint venture will
safeguard Sandvik's supply of powder and Carpenter Technology will gain
access to Sandvik Powdermet AB's manufacturing and sales of powder-based
products, which are delivered in the form of near-net-shape products.
The strategic partnership also provides the opportunity for product
development collaboration. The two companies will continue to operate
under their current respective brands, Sandvik and Carpenter.
“Powder technology is one of the development areas to which we have
assigned highest priority to enable us to further strengthen our
position in the field of advanced materials in, for example, the rapidly
expanding energy sector. The strategic partnership with Carpenter
Technology makes us a leading player in the field of powder technology,”
says Peter Gossas, President of the Sandvik Materials Technology
business area.
“We are committed to enhancing our market position in powder
manufacturing and technology, which will strengthen our portfolio of
high-value, differentiated products and provide a vehicle for continued
future growth. The partnership with Sandvik will further establish us as
a leading global supplier of technologically advanced materials required
by the energy and other demanding market sectors,” says William A.
Wulfsohn, President and Chief Executive Officer of Carpenter
Technology. 
Sandvik Materials Technology also has powder technology operations in
Sandvik Osprey Ltd in Wales, powder manufacturing in Surahammar, Sweden
and a powder technology R&D unit in Sandviken, Sweden. Carpenter
Technology Corporation has additional powder manufacturing operations in
the US: in Bridgeville, PA, and Woonsocket, RI, as well as powder R&D in
Reading, PA. These units will not be included in the joint venture.
Sandviken, 19 October 2010
Sandvik Aktiebolag (publ)
Sandvik AB discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act. The
information was submitted for publication at 13:00 CET. on 19 October
2010.

Further information can be obtained from Peter Gossas, President of
Sandvik Mateirals Technology, tel.
+46 26 26 36 28 or Jan Lissåker, Vice President Investor Relations,
Sandvik AB, tel. +46 26 26 10 23.