Sandvik enters global cooperation with Red Cross

The agreement is unique and comprises:

• Purchase of services from the Red Cross for training of Sandvik employees worldwide in the Group's values regarding ethical, social and environmental responsibility.
• Sandvik's employees are available to assist the International Federation of Red Cross and Red Crescent Societies in the event of catastrophe situations.

Sandvik has expanded strongly during the past decade. Sales have more than doubled as a result of organic growth and some thirty acquisitions worldwide, including several very large ones. Today, Sandvik has 37,000 employees and operations in 130 countries. Many of its customers are also global and expect that Sandvik acts consistently, regardless of country in which it operates.

Against this background, it is strategically important to accelerate the pace of implementing the Group's values and policies regarding ethical, social and environmental responsibility. These issues affect all employees, in all companies, and in all countries. This effort is a natural step in Sandvik's ongoing improvement program.

"It is very pleasing that we now join with the Red Cross as a partner in these important value issues," says Lars Pettersson, President and CEO of the Sandvik Group. "Gaining access to the Red Cross's unique competence and experience of working, for example, with ethical and social issues in a global organization is good for Sandvik and represents an important support to our employees around the world."

"Sandvik's decision to educate its employees in ethical and social issues shows a long-term commitment," says Christer Zettergren, Secretary General of the Swedish Red Cross. "At the same time, Sandvik's technical know-how and expertise can contribute to increasing catastrophe readiness."

Sandviken, 11 December 2002

Sandvik AB; (publ)

A joint press conference about the cooperation will be held on Wednesday, 11 December, 11:00 a.m., at the Red Cross head office, Hornsgatan 54, Stockholm. Slides from press conference (PDF, )

The Red Cross is the world's largest humanitarian volunteer organization. The Red Cross is located in 178 countries and has about 100 million members.