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Sandvik Aktiebolaget (SDF)

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Friday 22 November, 2002

Sandvik Aktiebolaget

Sandvik Specialty Steels changes name to Sandvik M

Sandvik Specialty Steels changes name to
Sandvik Materials Technology, headed by Peter Gossas

Sandvik is intensifying its focus on high-value-added products. As part
of this effort, the organizational structure within the Sandvik
Specialty Steels business area is being changed as of
1 January 2003. In line with the ongoing shift in the business area's
focus, it has also been decided to change name to Sandvik Materials
Technology.

The business area, with about 8,000 employees and annual sales of
approximately SEK 14,500 M, is a world-leading supplier of products with
extensive added value in advanced metals, special alloys, metallic and
ceramic resistance materials as well as process plants based on steel
conveyor belts, and sorting systems.

Peter Gossas, currently president of Sandvik Steel, has been appointed
president of the business area and will become a member of Group
Executive Management as of the above date.

Sandvik Materials Technology comprises five business sectors: Tube,
Strip, Wire, Kanthal and Process Systems. With the establishment of the
new organization, the Sandvik Steel business sector ceases to exist.

"The new organization provides a more distinct and simpler structure and
is part of the efforts to increase efficiency and improve profitability
that is under way within the framework of the ongoing program of
change," says Peter Gossas. "The aim of the name change is to highlight
our role as a high-technology cooperation partner within the field of
materials technology. "We strengthen our leading position within
advanced materials and high-value-added products developed in close
cooperation with our customers."

For additional information, contact Peter Gossas +46 26 26 40 56.

Sandviken, 22 November 2002

Sandvik AB; (publ)

                                                                                                                                                                                                      

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