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Sandvik Aktiebolaget (SDF)

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Friday 17 May, 2002

Sandvik Aktiebolaget

Statement re. Press Comment

Sandvik Hard Materials plans closure of production in Denmark

Sandvik Hard Materials has decided on closure of production of cemented-
carbide seal rings and wear parts in Espergaerde, Denmark, and transfer
production to the unit in Barcelona, Spain. The action affects slightly
more than 100 employees and is expected to be completed within the next
12 months. About 30 new employees will be recruited in Barcelona.

The closure is part of Sandvik Tooling's ongoing program of change that
comprises a concentration of the number of production and logistics
units to increase efficiency and profitability within the business area.

"Consolidation of the number of production units is necessary for our
continuing focus on areas with higher growth and profitability," says
Sven Flodmark, President of Sandvik Hard Materials.

Stockholm, 17 May 2002

AB Sandvik Hard Materials

For further information contact, Sven Flodmark, President of AB Sandvik
Hard Materials,
tel +46 (0)8-762 63 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 36,000 employees in 130 countries, with annual sales of
approximately SEK 50 billion.

Sandvik Hard Materials is a sector within Sandvik Tooling and a world
leader in such product areas as cemented-carbide blanks for tool
manufacturers, components for the engineering industry and advanced
cutting and forming tools for other industries. Annual sales are
approximately SEK 1,800 M with about 1,300 employees.

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