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Sandvik sells carbon steel unit in Czech Republic

Sandvik Chomutov Precision Tubes s.r.o. in the Czech Republic has reached an agreement in principle with the German company Mannesmann Hoesch Präzisrohr GmbH (MHP) for the sale of the carbon steel division at Sandvik Chomutov with 130 employees and annual sales of approximately SEK 70 M.

Sandvik Chomutov is a wholly-owned subsidiary within Sandvik Steel and was established in April 1994. The company manufactures and sells mainly seamless tubes in stainless steel, and until now, in carbon steel as well.

"For Sandvik, the sale of the carbon steel division means that manufacturing in Chomutov will concentrate entirely on seamless, stainless steel tubes. The production of carbon steel products lies outside Sandvik Steel's core business area and no synergy effects can be obtained with other companies in the Group," says Per Ericson, President of Sandvik Steel.

MHP, which is specialized in the production of carbon steel precision tubes, wants to expand its operations in eastern Europe and will establish a new company, MHP Mannesmann Presne trubky s.r.o., in Chomutov.

Sandviken, 1 September 1997

AB Sandvik Steel

Sandvik Steel, a business area in the Sandvik Group, is one of the world's leading manufacturers of seamless tube, strip, wire and bar produced in stainless and high-alloy steels and special alloys. Invoiced sales in 1996 were SEK 9 billion, with 7,700 employees, of whom about 4,000 in Sandviken, Sweden.