New President of Sandvik Materials Technology

Under his current contract with Sandvik, Peter Gossas, President of Sandvik Materials Technology, will retire at the age of 62. Accordingly, he will leave the Sandvik Group on 31 May 2011.

Jonas Gustavsson, currently President of the Wire and Heating Technology product area within Sandvik Materials Technology, has been appointed the new President of the business area effective 1 May 2011. As of the same date, he will be a member of Sandvik's Group Executive Management.


Jonas Gustavsson, new President of
Sandvik Materials Technology from 1 May 2011.

Jonas Gustavsson was born in 1967 and holds an M. Sc. in Mechanical Engineering from Luleå Technical University. He has solid industry experience from senior positions within and outside Sandvik. He was previously General Manager of the Tube operations within Sandvik Materials Technology in Sweden and also held the position of Vice President Operations at Bombardier Recreational Products in Austria. Prior to this, he occupied several senior positions in ABB.

Olof Faxander, President and CEO of Sandvik AB, commented as follows on the change:

"With his broad background and proven ability to successfully drive change, Jonas Gustavsson has the right profile to lead Sandvik Materials Technology. He brings with him experience from two different product areas within the business area and has made an exceptional contribution to the development of Wire and Heating Technology over the past two years."

"At the same time, I would like to thank Peter Gossas, whose strong and committed leadership during his nine years as President of Sandvik Materials Technology has, among other achievements, resulted in a specialization of the product program toward increasingly high value-added products, improved manufacturing processes and a clearly higher pace in product development."

Sandviken, 4 April 2011

Sandvik Aktiebolag (publ)

Sandvik AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 9:30 a.m. CET on 4 April 2011.

For further information, contact Anders Wallin, Vice President Group Communications Sandvik AB, tel +46 26 26 09 20 or Lena Berg, Head of Communications Sandvik Materials Technology, tel +46 26 26 31 11.