Sandvik completes the acquisition of Diamond Innovations

Sandvik completes the acquisition of Diamond Innovations

Sandvik announced on 26 January 2007 the agreement to acquire diamond-based
materials producer Diamond Innovations. 

The acquisition was completed on 15 March 2007 and the work to include the
company as a Product Area within Sandvik Tooling has started.

Sandviken, 16 March 2007

Sandvik AB; (publ)


For further information, contact Anders Thelin, President, Sandvik Tooling
business area, +46 (0)26-26 63 84, or Jan Lissåker, Vice President, Investor
Relations, Sandvik AB, +46 (0)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 and sorting 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 Tooling is a business area within the Sandvik Group and a global
market-leading manufacturer of tools and tooling systems for metal cutting as
well as of blanks and components. Annual sales 2006 were about SEK 22,500 M with
15,100 employees. Approximately 5% of the turnover is invested in R&D. Products
are manufactured in cemented carbide, high-speed steel and other hard materials
such as diamond and special ceramics. Well-established brands are Sandvik
Coromant, Sandvik Hard Materials, Walter, Valenite, Safety, Titex, Dormer,
Prototyp, Precision Twist Drill etc.