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For the village in the Faroe Islands, see Sandvík.
Sandvik AB
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 88,821 billion (2014)[1]
SEK 10,120 billion (2014)[1]
Profit SEK 5,992 billion (2014)[1]
Total assets SEK 106,319 billion (end 2014)[1]
Total equity SEK 36,672 billion (end 2014)[1]
Number of employees
47,318 (2014)[1]

Sandvik is a global company founded in 1862 by Göran Fredrik Göransson (sv) in Sandviken, Sweden. Sandvik is a high-technology engineering group in tools and tooling systems for metal cutting, mining, construction equipment, products in stainless steel and alloys. Sandvik has about 47,000 employees in 130 countries, with annual sales of approximately SEK 89 billion (2014).[1]

Corporate structure[edit]

Göran Fredrik Göransson, founder of Sandvik.

Sandvik consists of five business areas.

Sandvik Mining[edit]

A Sandvik LH517 underground loader

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 Machining Solutions[edit]

Sandvik Machining Solutions (formerly Sandvik Tooling) is a manufacturer of tools and tooling systems for advanced industrial metal cutting.

Sandvik Materials Technology[edit]

A developer and producer of stainless steels, alloys, titanium and metallic and ceramic resistance materials.

Sandvik Construction[edit]

Sandvik personnel in 1881.

Provides services in construction and construction-related products.

Sandvik Venture[edit]

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


Sandvik's first overseas arm was in Birmingham, England. The UK headquarters is now in nearby Halesowen.

See also[edit]


  1. ^ a b c d e f g "Annual Results 2014". Sandvik. Retrieved 30 March 2014. 

External links[edit]