Completion of closure is expected by June 2006 and affects about 100 persons.
Other functions at the Fair Lawn premises such as sales and marketing will not be affected by the closure.
Sandviken, 18 April 2006
Sandvik AB; (publ)
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 and representation in 130 countries, with annual sales of approximately SEK 63,000 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 are about SEK 21,000 M with 15,000 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 etc.
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Sandvik Tooling Anders Thelin, +46 26 26 63 84