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Sandvik to divest minority shareholding in Outokumpu Stainless Tubular Products AB (OSTP)

Sandvik has reached an agreement with the Finnish company Outokumpu on the divestment of Sandvik's 11.6% minority shareholding in Outokumpu Stainless Tubular Products AB (OSTP).

Outokumpu's OSTP business unit is one of the world's largest producers of welded stainless steel tubular products, with operations in Sweden, Finland, Estonia, Belgium, France, Canada and the US. The annual production capacity is some 100,000 tons. OSTP has 1,300 employees and had sales of some EUR 480 M in 2006.

"The divestment of Sandvik's share in OSTP is in line with our strategy to develop and focus on the defined core business for Sandvik Materials Technology," says Peter Gossas, President of Sandvik Materials Technology.

The divestment is expected to be completed during the second quarter of 2007.

Sandviken, 15 May 2007

Sandvik AB; (publ)

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