SANDVIKEN, Sweden, Sept. 19, 2005 (PRIMEZONE) -- Hagby-Asahi of Sweden and Sandvik Mining and Construction of Sweden have signed an agreement to further strengthen the position of both companies in the market for mineral exploration tools and equipment.
The cooperation between Hagby-Asahi and Sandvik Mining and Construction -- both suppliers to the mining industry -- will strengthen their ability to add real value for customers' business. Under the agreement, Sandvik Mining and Construction will become distributor of exploration drill rigs and coring tools from Hagby-Asahi in such main mining markets as Latin America, Africa, Australia as well as Russia and the former Soviet republics (CIS).
"The agreement with Sandvik Mining and Construction supports Hagby-Asahi's growth in the field of products for mineral exploration, a key growth market for us. Sandvik will add global reach for our products and will enable Hagby-Asahi to provide products on all key mineral exploration markets," says Jan Kallenback, President of Hagby-Asahi.
"Sandvik Mining and Construction started to distribute products from Hagby-Asahi in Russia five years ago with highly favorable results. This extended agreement with Hagby-Asahi enables Sandvik Mining and Construction to further expand our sphere of expertise and provides a more comprehensive offering for mineral exploration thereby improving our ability to support our customers in their total process," says Sandvik Mining and Construction President Lars Josefsson.
Sandviken, 19 September 2005
Sandvik AB; (publ)
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 38,000 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 16,600 M, with about 9,600 employees.
Hagby-Asahi AB was founded 1960 under the name Hagby Bruk AB. Hagby-Asahi today ranks as a leading supplier of diamond tools and core drills with all accessories. Design, development and manufacturing take place in Nora, Sweden and the products are sold all over the world. Annual sales amount to SEK 150 M, with about 110 employees, including wholly owned subsidiaries in Canada, Finland and the U.S. Hagby-Asahi is a wholly owned subsidiary of Asahi Diamond Industrial Ltd, Japan. The parent is one of the world's largest manufacturers of diamond tools with plants in Japan and subsidiaries in South Korea, Taiwan, Sweden, Australia, France and the U.S. Asahi Diamond Industrial Group has 1,600 employees with annual sales of approximately SEK 2,300 M.
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