Jun 2 2006
Sandvik announced on 11 May 2006 that the company reached an understanding with Asahi Diamond Industrial Co Ltd, Japan, to acquire Hagby-Asahi AB.
A final agreement was signed on 30 May 2006 at a purchase consideration of SEK 135 M. Hagby-Asahi is being consolidated within Sandvik Mining and Construction as of 1 July.
In conjunction with signing of the purchase agreement, a long-term delivery agreement was also signed for diamond drill products and services from Asahi to Sandvik Mining and Construction, which further strengthens Sandvik's product offering within mineral exploration.