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Sandvik Aktiebolaget (SDF)

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Tuesday 26 November, 2002

Sandvik Aktiebolaget

Sandvik Mining and Construction consolidates produ

Sandvik Mining and Construction consolidates production in North America

Sandvik Mining and Construction has decided to consolidate production of
mining equipment in North America to its plants in Alachua, Florida in
the US and Burlington, Ontario, Canada. The plant in Bluefield, West
Virginia, which mainly manufactures equipment for the continuous mining
of coal, will be closed.

Sales, service and administration are being transferred to Sandvik's
facilities in Bristol, Virginia. The service and repair workshops in
Bolt, West Virginia, and Brier Hill, Pennsylvania, as well as
strategically located warehouses will remain open.

The restructuring will be carried out at the beginning of 2003 and
affects about 150 persons.

The market for coal mining and the price of coal has fallen dramatically
since 2001 and is expected to remain at a low level. Consequently,
rationalization measures are necessary to also attain profitability at a
lower level of sales.

Sandviken, 26 November 2002

Sandvik Mining and Construction

For additional information, contact Anders Ilstam, President, Sandvik
Mining and Construction
+46 26 26 51 01.

Sandvik is a high-technology engineering group with advanced products
and world-leading positions in selected areas - tools for metalworking,
machinery and tools for rock excavation, stainless steel, special alloys
and resistance heating materials and process systems. The Group has
37,000 employees in 130 countries, with annual sales of approximately
SEK 55,000 M.

Sandvik Mining and Construction is a business area within the Sandvik
Group and a world-leading manufacturer of drilling and excavation
machinery, tools and service for the mining and construction industries.
Annual sales amount to about SEK 14,800 M, with 8,000 employees.

                                                                                                                                                                                                                  

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