Sandvik concludes agreement with Accenture on outsourcing of HR services

The agreement is for ten years and in a first phase includes the US, Finland and Sweden. It is the partners' intention to also include France, Germany, the UK, South Africa, India and Australia in a later phase of the process.

Pursuant to the agreement, some of the duties that are currently carried out by Sandvik's HR staff will be handled by Accenture through so-called Shared Service Centers. Examples of services that Accenture will supply are telephone support, certain recruitment activities, training administration and personnel administration routines.

One purpose with the change is to facilitate a focus of the human resources work within Sandvik on strategically important HR issues, such as leadership and resourcing as well as competence development.

Those personnel affected by the change within the personnel administration areas will be offered employment at Accenture.

Sandviken, 16 November 2004

Sandvik AB; (publ)