Jan 9, 2007 — Sandvik Hard Materials has reached an agreement with Rexam, the global consumer packaging company, to acquire the beverage can tooling business in Rexam’s North American Equipment Manufacturing Division in Chicago.

As part of the agreement, Sandvik and Rexam have entered into a long-term contract where Sandvik will supply Rexam’s North American beverage can operation with cemented carbide can tooling and related services.

Machinery and equipment from the Chicago operations will be transferred to Sandvik Hard Materials’ existing can tools plant in Minneapolis, with the transfer expected to be completed in June 2007. The acquisition does not include employees or the premises.

"The acquisition is a further step in our strategy to establish a world leading position as supplier of high performance tooling solutions to the beverage can industry. It also complements our close partnership with Rexam which already exists in all markets outside North America," says Tom Erixon, President of Sandvik Hard Materials.

Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, machinery and tools for rock excavation, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems and sorting systems. The Group has 39,000 employees and representation in 130 countries, with annual sales of approximately SEK 63,000 M.

Sandvik Tooling, a business area within the Sandvik Group, is a global market-leading manufacturer of tools and tooling systems for metal cutting as well as blanks and components. Products include cemented carbide, high-speed steel and other hard materials such as diamond and special ceramics. Well-established brands include Sandvik Coromant, Sandvik Hard Materials, Walter, Valenite, Safety, Titex, Dormer, Prototyp, Precision etc.

Rexam is a leading global consumer packaging group offering a broad range of packaging services and solutions for different industries, using a variety of materials and innovative technologies. Rexam is known for leadership in its chosen industries, commitment to innovation, and a passion to deliver exceptional value.