Sandvik

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For the village in the Faroe Islands, see Sandvík.
Sandvik AB
Type Publicly traded Aktiebolag (OMXSAND)
Industry Engineering
Founded 1862
Headquarters Stockholm, Sweden
Key people Anders Nyrén (Chairman), Olof Faxander (President and CEO)
Products Tools and tooling systems for metal cutting, mining and construction equipment and tools, stainless steel and special alloy products
Revenue SEK 87.328 billion (2013)[1]
Operating income SEK 8.638 billion (2013)[1]
Total assets SEK 93.882 billion (end 2013)[1]
Total equity SEK 33.610 billion (end 2013)[1]
Employees 47,338 (2013)[1]
Website www.sandvik.com

Sandvik is a Swedish company founded in 1862 by Göran Fredrik Göransson (sv) in Sandviken. Sandvik is a high-technology engineering group in tools and tooling systems for metal cutting, mining, construction equipment, products in advanced stainless steels and special alloys. Sandvik has about 47,000 employees in 130 countries, with annual sales of approximately SEK 87 billion (2013).[1]

Corporate structure[edit]

Sandvik consists of five business areas:

  • Sandvik Mining
  • Sandvik Construction
  • Sandvik Materials Technology
  • Sandvik Machining Solutions
  • Sandvik Venture

Sandvik Mining[edit]

A Sandvik LH517 underground loader

Provides equipment and tools, service and technical solutions for the mining industry. It offers exploration, rock drilling, rock cutting, rock crushing, loading and hauling and materials handling.

The business area's headquarters is in Amsterdam, Netherlands. President of Sandvik Mining is Scot Smith.

Until January 1, 2012 Sandvik had one business area for mining and construction, Sandvik Mining and Construction. Following the implementation of a new Sandvik Group strategy in 2011 two new business areas were created out of Sandvik Mining and Construction, Sandvik Mining and Sandvik Construction. These new companies became operational January 1, 2012.

Sandvik Mining and Construction was founded in 1998 after the merger of Tamrock and Sandvik Rock Tools. Sandvik Mining and Construction continued to grow organically as well as through acquisitions.

Sandvik Construction[edit]

Sandvik personnel in 1881.
Göran Fredrik Göransson, founder of Sandvik.

Provides solutions for virtually any construction industry application encompassing such diverse businesses as surface rock quarrying, tunneling, excavation, demolition, road building, recycling and civil engineering. The range of products includes rock tools, drilling rigs, breakers, bulk-materials handling and crushing and screening machinery.

Sandvik Materials Technology[edit]

A developer and producer of advanced stainless steels, special alloys, titanium and metallic and ceramic resistance materials. Operations are divided into four product areas: Tube, Strip, Wire & Heating Technology and Primary Products.

Sandvik Venture[edit]

Sandvik Venture comprises product areas Sandvik Hyperion, Wolfram and Sandvik Process Systems.

Sandvik Machining Solutions[edit]

Sandvik Machining Solutions (formerly Sandvik Tooling) is a global market-leading manufacturer of tools and tooling systems for advanced industrial metal cutting. Products are manufactured in cemented carbide and other hard materials such as diamond, cubic boron nitride and special ceramics.

Birmingham[edit]

Sandvik's first overseas arm was in Birmingham, England. The UK headquarters is now in nearby Halesowen, and each year the company provides the city's official Christmas Tree, which is erected in Victoria Square. opened by CEO John Carney

See also[edit]

References[edit]

  1. ^ a b c d e f "Annual Results 2013". Sandvik. Retrieved 15 April 2013. 

External links[edit]