New President of Sandvik Materials Technology

New President of Sandvik Materials Technology

Under his current contract with Sandvik, Peter Gossas, President of
Sandvik Materials Technology, will retire at the age of 62. Accordingly,
he will leave the Sandvik Group on 31 May 2011.

Jonas Gustavsson, currently President of the Wire and Heating Technology
product area within Sandvik Materials Technology, has been appointed the
new President of the business area effective 1 May 2011. As of the same
date, he will be a member of Sandvik's Group Executive Management.

Jonas Gustavsson was born in 1967 and holds an M. Sc. in Mechanical
Engineering from Luleå Technical University. He has solid industry
experience from senior positions within and outside Sandvik. He was
previously General Manager of the Tube operations within Sandvik
Materials Technology in Sweden and also held the position of Vice
President Operations at Bombardier Recreational Products in Austria.
Prior to this, he occupied several senior positions in ABB.

Olof Faxander, President and CEO of Sandvik AB, commented as follows on
the change:

“With his broad background and proven ability to successfully drive
change, Jonas Gustavsson has the right profile to lead Sandvik Materials
Technology. He brings with him experience from two different product
areas within the business area and has made an exceptional contribution
to the development of Wire and Heating Technology over the past two
years.”

”At the same time, I would like to thank Peter Gossas, whose strong and
committed leadership during his nine years as President of Sandvik
Materials Technology has, among other achievements, resulted in a
specialization of the product program toward increasingly high
value-added products, improved manufacturing processes and a clearly
higher pace in product development.”

Sandviken, 4 April 2011
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 9:30 a.m. on 4 April 2011.
For further information, contact Anders Wallin, Vice President Group
Communications Sandvik AB,
tel +46 26 26 09 20 or Lena Berg, Head of Communications Sandvik
Materials Technology, tel +46 26 26 31 11.

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The Sandvik Group
Sandvik is a global industrial group with advanced products and
world-leading positions in selected areas - tools for metal cutting,
equipment and tools for the mining and construction industries,
stainless materials, special alloys, metallic and ceramic resistance
materials as well as process systems. In 2010, the Group had about
47,000 employees and representation in 130 countries, with annual sales
of nearly SEK 83,000 M.

Sandvik Materials Technology
Sandvik Materials Technology is a business area within the Sandvik Group
and a world-leading manufacturer of high value-added products in
advanced stainless materials, special alloys, metallic and ceramic
resistance materials, as well as process systems. Annual sales in 2010
were about SEK 17,700 M with 9,100 employees. The product area comprises
Tube, Strip, Wire and Heating Technology, Process Systems and MedTech.