Snap-on Names Anders Ågren President of Bahco Group AB

KENOSHA, Wis. - May 5, 2000 - Snap-on Incorporated (NYSE: SNA), a global leader in tools, diagnostics and equipment, announced that Anders Ågren will succeed Göran Gezelius as president of the Bahco Group AB (formerly Sandvik Saws and Tools). Gezelius, who will be leaving July 1 to pursue other business interests, will assist during the transition period.

“Anders brings to the position exceptional leadership skills and knowledge of the industry,” said Robert A. Cornog, Snap-on chairman, president and chief executive officer. “We are confident that Anders and the strong Bahco management team will execute Bahco’s ambitious business plan for 2000 and beyond. The performance of the Bahco Group to date reflects their commitment to doing so.”

Ågren was named executive vice president of Sandvik Saws and Tools in 1994 and continued in that capacity subsequent to the acquisition of the Saws and Tools group by Snap-on in September of 1999. Prior to 1994, Ågren was vice president distribution and logistics. He joined Sandvik Saws and Tools in 1985 after serving 16 years at Sandvik Steel in various functions at different Sandvik business areas in Sweden and around the world. Ågren holds a bachelor’s degree in engineering.

“I am pleased to have had the opportunity to serve Sandvik Saws and Tools and the Bahco business,” said Gezelius. “I believe Bahco has exciting opportunities ahead of it and that the Bahco-Snap-on team will realize those possibilities.” Cornog added: “We thank Göran for his dedication throughout the transaction process and during the initial stages of the new company. We wish him well in his future business pursuits.”

Snap-on Incorporated is a leading global developer, manufacturer and marketer of tool and equipment solutions for professional tool users. Product lines include hand and power tools, diagnostics and shop equipment, tool storage products, diagnostics software and other solutions for the transportation service, industrial, government, education, agricultural, and other commercial applications, including construction and electrical. Products are sold through its franchise dealer van, company direct sales and distributor channels. Founded in 1920, Snap-on is a $2+ billion, S&P 500 company headquartered in Kenosha, Wisconsin and employs approximately 14,000 worldwide.

Media contact:
Richard Secor
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