Husqvarna acquires diamond-tool operation

4/30/2008 8:30 AM EST

Husqvarna has acquired the assets and operation relating to products for the construction industry within Sandvik Nora AB (previously Hagby Asahi AB), a company within Sandvik’s Mining and Construction business area.

The acquired operation comprises production and sales of diamond tools and related machines for sawing, drilling and grinding. Annual sales amount to approximately SEK 65m. The operation is based in Nora, Sweden and Vantaa, Finland

The acquisition complements Husqvarna’s product range for the construction industry and reinforces the Group’s leading position in the Nordic region.

“Hagby has a strong market position in Sweden and Finland, says Anders Ströby, Head of Husqvarna Construction Products. Synergies will be achieved with our existing operation in terms of production and distribution. In addition, Hagby’s floor-grinding machines complement our existing international product offering.”

For more information, please contact Anders Ströby, head of Husqvarna Construction Products, at +46-70 594 90 09 or Åsa Stenqvist, head of Group staff Communications and Investor Relations, at +46-8-738 64 94.