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Sandvik Aktiebolaget (SDF)

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Thursday 14 November, 2002

Sandvik Aktiebolaget

Sandvik signs 12-year agreement with mining compan

Sandvik signs 12-year agreement with mining company in Indonesia

Sandvik's Mining and Construction business area has signed an agreement
with the P.T. Freeport Indonesia mining company covering delivery and
service from Driltech Mission of customized equipment for surface mining
of copper and gold in Indonesia. The agreement is for a period of 12
years and has a total value of SEK 700 M. The first deliveries of new
equipment are scheduled for the spring of 2003.

The principal owner of the mining company, Freeport McMoRan Copper &
Gold, is one of the world's largest copper and gold producers. Mining
operations are conducted at an altitude of above 3,000 meters and this
places heavy demands on the functionality and durability of the
equipment. Driltech Mission, a sector within Sandvik Mining and
Construction, will deliver drilling rigs, tools, spare parts and service
to the mine. Deliveries include roller cone bits from Sandvik Smith.

"The agreement is the result of long and successful relations and
through this cooperation the customer can increase the mine's
productivity and cost-efficiency significantly," says Anders Ilstam,
President of the Sandvik Mining and Construction business area. "Our
position in the industry as a leading supplier of high-efficiency
products and services is further strengthened as a result of the
agreement."

Sandviken, 14 November 2002

Sandvik Mining and Construction

For further information, contact Anders Ilstam, Sandvik Mining and
Construction, +46 26 26 51 01 or Walter Maier, President, Driltech
Mission, +1 386 462 6232.


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 SEK 14,800 M, with about 8,000 employees.

Driltech Mission is a business sector within Sandvik Mining and
Construction and a leading manufacturer in the areas of drilling rigs
and tools for rotary surface drilling. Annual sales amount to about SEK
1,000 M with 400 employees.

     

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