Sandvik
 |
 | |
| Company type | Public (Nasdaq Stockholm: SAND) |
|---|---|
| ISIN | SE0000667891 US8002122013  |
| Industry | Engineering |
| Founded | 1862 |
| Headquarters | Sandviken, Sweden |
Key people | Lars Pettersson (President and CEO), Clas Åke Hedström (Chairman of the board) |
| Products | Tools for metal cutting, mining and construction tools, stainless steel and special alloy products |
| Revenue | SEK 92,654 million (2008)[1] |
 SEK 12,794 million (2008)[1] | |
| SEK 7,472 million (2008)[1] | |
Number of employees | 50,030 (2008)[1] |
| Website | www.sandvik.com |
Sandvik is a Swedish company founded in 1862 by Göran Fredrik Göransson in Sandviken. It is a high-technology engineering group and a world-leader in tooling, materials technology, mining and construction. It has about 44,000 employees in 130 countries, with annual sales of approximately SEK 86 billion.
Corporate Structure
Sandvik consists of three business areas as following:
- Sandvik Tooling
- Sandvik Material Technology
- Sandvik Mining and Construction
Tooling Division
The tooling business area is primarily concerned with the production and development of metal cutting tools. Manufactures of carbide tipped tooling for metal cutting applications.
- It is comprised of several brands as a result of Sandvik acquiring other corporations and keeping their brands. Tooling began as Sandvik Coromant and Coromant remains one of Sandvik Tooling's most important brand.
- Another "Brand" is the Dormer Tools company of Sheffield, England. Formerly known as the "Sheffield Twist Drill and Steel Co. Ltd" whose brand name is "Dormer".[2]
Materials Technology division
The Materials Technology business area specializes in speciality alloy steels and, to a lesser extent, other special alloys.
Mining and Construction division
- Manufacture cutters and ground engagement wear parts (Cutting tools and replaceable teeth)
- Mining machinery
- Crushers
- Hydraulic breakers (hammers) for Excavators and demolition machines.
Birmingham
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.
