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Sandvik completes acquisition of Swedish-Japanese Hagby-Asahi

Sandvik announced on 11 May 2006 that the company reached an understanding with Asahi Diamond Industrial Co Ltd, Japan, to acquire Hagby-Asahi AB.

A final agreement was signed on 30 May 2006 at a purchase consideration of SEK 135 M. Hagby-Asahi is being consolidated within Sandvik Mining and Construction as of 1 July.

In conjunction with signing of the purchase agreement, a long-term delivery agreement was also signed for diamond drill products and services from Asahi to Sandvik Mining and Construction, which further strengthens Sandvik's product offering within mineral exploration.

Sandviken, 31 May 2006

Sandvik AB; (publ)