Sandvik completes acquisition of Varel International Energy Services Inc.

The company has about 1,300 employees and revenue in 2013 was approximately 340 million USD.

The acquisition was completed on 21 May 2014 and will be consolidated into Sandvik Venture as of the same date. Varel International Energy Services Inc. will be included in Sandvik Venture's Q2 result. The work to integrate Varel International Energy Services Inc. in business area Sandvik Venture will start immediately.

Stockholm, 21 May 2014

Sandvik AB

For further information contact Ann-Sofie Nordh, Investor Relations Officer, Sandvik AB, tel +46 8 456 14 94 or Pär Altan, Vice President External Communications, Sandvik AB, tel +46 8 456 12 37.

Sandvik completes acquisition of Varel International Energy Services Inc. (PDF)