The SPP (Swedish Staff Pension) insurance company today announced that, based on certain specified conditions, an amount of about SEK 500 M has been reserved on account for the Sandvik Group for pension applications.
The amount represents a surplus being repaid by SPP of pension funds deposited by Sandvik in recent years. The time and the conditions regarding how the funds will be transferred to Sandvik have not been determined.
Sandviken, 26 October 1999
Sandvik AB; (publ)