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Sandvik becomes part-owner of Endorsia e-business marketplace

The Sandvik Group is one of five part-owners in Endorsia.com International AB, an e-business marketplace for industrial goods and services in Europe.

The marketplace, which was previously wholly owned by SKF, offers quality products to distributors and end-customers from well-known industrial companies and simplifies purchasing and sales for all parties.

Other owners in Endorsia are the companies INA Holding Schaeffler KG, Rockwell Automation, The Timken Company and SKF. Ownership is divided equally among the five companies.

"Endorsia is an important complement to our other rapidly growing e-business solutions for distributors and end-customers," says Lars Pettersson, Executive Vice President, Sandvik AB. "Through cooperation within Endorsia, we can increase competitiveness and reach new customer groups.

"Customers can utilize this e-business marketplace to quickly and effectively gain access to our advanced metalworking tools and tooling systems and our extensive service offering. Through Endorsia, Sandvik will market the well-known Sandvik Coromant, Dormer, Titex and Prototyp cemented-carbide and high-speed steel brands," says Lars Pettersson.

Sandviken, 17 January 2001

Sandvik AB; (publ)