Sandvik

Sandvik

https://en.wikipedia.org/wiki/Sandvik
From Wikipedia, the free encyclopedia
Sandvik AB
Publicly traded Aktiebolag (Nasdaq StockholmSAND)
Industry Engineering
Founded 1862; 155 years ago (1862)
Headquarters Stockholm, Sweden
Key people
Johan Molin (Chairman of the Board), Björn Rosengren (CEO)
Products Tools and tooling systems for metal cutting, mining and construction equipment and tools, stainless steel and special alloy products
Revenue SEK 81.533 billion (2016)[1]
SEK 11.018 billion (2016)[1]
Profit SEK 5.468 billion (2016)[1]
Total assets SEK 103.500 billion (end 2016)[1]
Total equity SEK 39.290 billion (end 2016)[1]
Number of employees
47,328 (2016)[1]
Website home.sandvik

Sandvik is a global company founded in 1862 by Göran Fredrik Göransson in Sandviken, Sweden. Sandvik is a high-technology engineering group in tools and tooling systems for metal cutting, equipment, tools and services for the mining and construction industries, products in advanced stainless steel and special alloys as well as products for industrial heating. Sandvik has about 43,000 employees and sales in more than 150 countries. Invoiced sales is approximately SEK 82 billion (2016).[1] Sandvik was the first company to commercially exploit the Bessemer Steel process.[2] The first blast furnace was installed by an English engineer and is now on display in a park in Sandviken. Products are now manufactured in India and China.[3]

Corporate structure

Göran Fredrik Göransson, founder of Sandvik.

In March 2016, Sandvik announced that it would restructure its business, merging Sandvik Mining and Sandvik Construction to form Sandvik Mining and Rock Technology.[4] The new structure became effective on 1 July 2016.[5] Sandvik consists of three principal business areas.

Sandvik Machining Solutions

A 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. This includes the work of Sandvik Coromant.

Sandvik Mining and Rock Technology

A Sandvik LH517 underground loader

A supplier in equipment, tools, service and technical solutions for the mining and construction industries. Application areas include rock drilling, rock cutting, crushing and screening, loading and hauling, tunneling, quarrying and breaking and demolition.

Sandvik Materials Technology

A manufacturer of advanced stainless steels and special alloys for the most demanding industries. The offering covers a large variety of product forms, such as tube, pipe, wire, strip and metal powder as well as products for industrial heating

Birmingham

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

See also

References

  1. ^ a b c d e f g "Annual Results 2016". Sandvik. Retrieved 20 March 2016. 
  2. ^ "Sandvikens Jernverk AB - innovative since 1862" (PDF). nasdaqomx.com. p. 1. Retrieved 3 November 2016. 
  3. ^ Bose, Pratim Ranjan (2014-12-03). "Sandvik to relocate global mining facilities to India, China". The Hindu Business Line. Retrieved 2017-07-31. 
  4. ^ "Sandvik forms new business area – Sandvik Mining and Rock Technology". mining.sandvik.com. Retrieved 2017-02-03. 
  5. ^ "Sandvik forms new business area – Sandvik Mining and Rock Technology". mining.sandvik.com. Retrieved 2017-02-03. 

In Q3 2015, intention to divest Mining Systems business was announced (approx. 5 billion SEK in invoiced sales). Numbers in facts box reflect Group excl. Mining Systems.

External links



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