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Sandvik Mining and Construction relocates construction segment's head office to Singapore

The business area Sandvik Mining and Construction will during the first quarter of 2009 relocate the management for the Construction Segment from Svedala, Sweden to Singapore. This concerns six persons in leading positions.

"The Asian market is big and it will grow even more", says Lars Josefsson, President of Sandvik Mining and Construction. "By relocating to Singapore we show both externally and internally the importance of focusing on this market. We also feel that local presence is essential in the business culture in that part of the world."

During the two years of existence for the construction segment growth has been very strong and it is already the biggest of the business area's five segments. Sandvik is now one of the world's ten biggest companies in the global construction equipment industry. Typical operations for supply are tunneling, demolition and recycling, quarry and civil engineering - both surface and underground.

"Asia represents the biggest potential for continued growth in this area. This makes it a natural development to strengthen our position in the region", says Lars Josefsson.

The head offices of the other four segments within Sandvik Mining and Construction are located in Klagenfurt, Leoben (both in Austria), Tampere (Finland) and Sandviken (Sweden).

Sandviken, 21 May 2008