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Sandvik acquires German steel belt manufacturer

Sandvik Process Systems has reached an agreement with Vereinigte Deutsche Nickel-Werke covering the acquisition of the German company Hindrichs-Auffermann Metallverarbeitungs GmbH located outside Wuppertal, Germany.

The company holds a strong position in the area of textured press plates and press belts of steel used in the production of laminates and in laminating of wood-based panels, an area assessed to have major growth potential. Annual sales amount about SEK 120 M, with 70 employees.

"This acquisition broadens our product range of advanced products and further enhances our position as a global leader in steel belt technology," says Svante Lindholm, President of Sandvik Process Systems.

Sandviken, 4 October 2000

Sandvik AB; (publ)