Sandvik acquires shares in WALTER AG
Sandvik has signed an agreement with the principal owners of WALTER AG covering the acquisition of shares resulting in a controlling interest in the company.
The transaction is subject to approval being granted by the competition authorities.
WALTER's operations include tools for metalworking, software systems for tool-management and numerically controlled grinding machines. In 2000, the company had sales of approximately EUR 300 M and profit before financial items of EUR 40 M, with 2,000 employees. Its head office is located in Tübingen, Germany. Markets outside Germany account for about 75 percent of total sales.
WALTER AG is listed on the Frankfurt Stock Exchange and is included in the German SDAX index.
Sandviken, 7 September 2001
Sandvik AB; (publ)