Sandvik Group

Sandvik Group is a high-tech international engineering group that manufactures tools and tools for cutting metal, equipment, tools and services for the mining and construction industries, stainless steel products and special alloys, as well as products for industrial heating. Sandvik Group's business units are engaged in research and development (R&D), production and sale of their products and services^[1]as of May 2023).

Performance indicators

2022: Internet-Connected Construction Machinery Market Share - 2.1%

History

2022: Completion of Sandvik Materials Technology Internal Separation

In 2022, Sandvik Materials Technology was successfully separated and registered as an independent Alleima company on Nasdaq Stockholm. Eight companies in strategic areas were acquired. As a result of the conflict between Russia and Ukraine, the company curtailed its activities in Russia.

2020: Signing of DSI Underground acquisition agreement

In 2020, an agreement was signed to acquire the market-leading underground security company DSI Underground, which became one of the largest acquisitions in the history of Sandvik. Sandvik completed the abandonment of the drilling and completion division (oil and gas related operations).

2019: Internal separation of Sandvik Materials Technology started

In 2019, the internal separation of Sandvik Materials Technology within the Sandvik Group was launched. Sandvik has signed an agreement to abandon most drilling work.

2018: Acquisition of Metrologic Group and sale of stainless wire business

In 2018, Sandvik acquired the French metrology software company Metrologic Group and sold its stainless wire business.

2015: Termination of operations at Mining Systems and acquisition of SGL Technology

In 2015, Johan Molin was elected the new chairman of Sandvik. President Olof Faxander left the company and was succeeded by Bjorn Rosengren. Sandvik announced its intention to cease operations at Mining Systems, a supplier of materials transportation systems for the mining industry. Sandvik acquired the Dutch company SGL Technology, a manufacturer of food industry technology equipment.

2014: Sale of business in non-core areas of activity

In 2014, Sandvik acquired Varel International Energy Services, thereby expanding the solution offering for the growing energy market. Sales of the stainless steel distribution business in Australia and New Zealand and the power spring business in the United States and Mexico, which are defined as non-core activities.

2012: The company's 150th anniversary

On January 31, 2012, and throughout the year, Sandvik celebrated its 150th anniversary. The divestment of Sandvik Medical Solutions, which was part of Sandvik Venture's business area, was completed. Sandvik took 100% ownership of Seco Tools.

2011: Moving the group's head office to Stockholm

February 1, 2011 Olof Faxander becomes the new president and chief executive of Sandvik. A new strategy has been developed, focused on the main activities, growing markets and optimization of internal processes. Three lines of business are turning into five: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction and Sandvik Venture. It was decided to move the head office of the group to Stockholm. It was also decided to move the office of the Board of Directors to Stockholm.

2003: Sandvik Coromant Manufacturing Center Certification

In 2003, the Sandvik Specialty Steels business line changed its name to Sandvik Materials Technology with five production lines. Certification of the first Sandvik Coromant production center has been completed. Sandvik Tooling is opening a new materials development research centre in Stockholm.

2002: Acquisition of controlling interest in Walter AG

Acquired a controlling stake in German instrument maker Walter AG.

2001: General Meeting of Shareholders approves share repurchase program

For oil gas industry and industry, new steel brands are being developed for the production of cables several kilometers long. A Singapore new the Asian distribution center, Sandvik Coromant, is opening in. The share repurchase program is approved by the General Meeting of Shareholders. Acquired a majority stake in Brazilian instrument maker Hurth Infer. Holding for the production of ceramic dental crowns of individual manufacture Procera-Sandvik sold. The remaining shares of the Indian Sandvik Choksi were acquired. Interest in Indian subsidiary Sandvik Asia is increasing. the Chilean The mining service company Bafco Mineria y Servicios was acquired. Sandvik becomes one of five partners of the e-commerce site Endorsia.

1998: Reorganization

Since 1998, a new organization has been operating, combining three main business areas: Sandvik Tooling, Sandvik Mining and Construction and Sandvik Specialty Steels. Secondary business areas: Sandvik Saws and Tools, Sandvik Process Systems, and Sandvik Hard Materials remain independent.

1997: Swedish IC Industrivärden becomes Sandvik's new major owner

In 1997, a share buyback of SEK 4 billion was completed. The Swedish investment Industrivärden becomes the new major owner of Sandvik. Sandvik acquires all Tamrock shares with 5,000 employees, mainly in, Finland,, Austria USA Chile and Australia. The company represents the world's largest underground Toro 2500 loader. Precision Twist Drill is acquired American , a manufacturer of steel drills, as well as a distributor of RGB steel in. Great Britain

1996: Acquisition of 42% of Kanthal and 49% of Finnish company Tampella

In 1996, Sandvik acquired 42% of Kanthal and 49% of the Finnish company Tampella, the parent company of Tamrock, which is already partially owned by Sandvik. The group becomes a major shareholder in Sandvik Choksi Tube, India, a seamless pipe extrusion and finishing company. The acquisition of French pipe manufacturer Precitube has been completed. For the production of synthetic fertilizers, a new stainless steel Safurex has been developed.

1992: Acquisition of 25% of equipment manufacturer Tamrock

In 1992, Sandvik acquired 25% of Finnish rock drilling equipment manufacturer Tamrock. High-speed steel tool manufacturer CTT Tools is acquired from SKF and includes divisions in, Sweden,, Great Britain,, and France. Italy Germany USA The Customized Approach concept is designed to Sandvik Coromant deliver customized products quickly to customers.

1984: Creation of Avesta Sandvik Tube and Fagersta Stainless

In 1984, Per-Ulof Ericsson was appointed the new Managing Director. The new decentralized organization includes seven separate business areas, regional companies and service companies. Avesta Sandvik Tube (Sandvik 25%) and Fagersta Stainless (Sandvik 50%) were created due to the restructuring of the Swedish special metallurgical industry.

1982: Sandvik Coromant Training Centre opens

The first of the training centers Sandvik Coromant (later called productivity centers) was opened in Halesowen,. Great Britain

1980: Acquisition of controlling interest in Eurotungstene

In 1980, a controlling stake in the French firm Eurotungstene and five small companies was acquired. A quick tool change system for turning Block Tools is presented, as well as a modular system for attaching rotating Varilock tools. The first Sandvik Rotoform plant is designed to pastillate liquid chemicals such as sulfur into a solid form. The subsidiary is based in Taipei, Taiwan.

1979: Acquisition of Osprey and Kosta

In 1979, Lennart Ollen was appointed president, and Arne Westerberg became chairman of the board. It was decided to build a continuous casting plant in Sandviken. Uddeholm Strip Steel Partnership. Kosta in Germany is purchased for tool storage. Acquisition of British company Osprey.

1976: Acquisition of Disston

In 1976, the American consumer tool company Disston was acquired. A wire manufacturing plant has been opened in Brazil.

1973: Acquisition of shares in Seco Tools group and Wickman Wimet

In 1973, Sandvik acquired 65% of all Seco Tools group shares. UK-based Wickman Wimet is acquired with units in Coventry, Featherstone, Glasgow and Nuneaton in the UK as well as units in South Africa. Sandvik has 57 subsidiaries.

1972: Renamed Sandvik AB

In 1972, the company name was changed from Sandvikens Jernverks AB to Sandvik AB. Technical advice in the field of cutting tools is organized as part of the Coromant Multi Service.

1967: Change of Managing Director and Chairman of the Board

In 1967, Arne Westerberg became managing director, and Hugo Stenbeck was elected chairman of the board. At this time, the parent company already has 40 subsidiaries, of which 20 are production companies. Sales cover 100 countries.

1966: Expansion of the company to an international group

In 1966, Sandvikens Jernverk became an international group. Net sales are distributed as follows Europe : 66% (of which Sweden 18%), North and South America 23% and finally, and Africa Asia 11%. Australia U-curved stainless steel pipes of very large length are supplied for steam generators in. atomic to power The company is invited to manufacture shell pipes in, in USA partnership with an American nuclear fuel manufacturer. Sweden Plants for the production of drill bits and extension rods for mining operations are being built in. Great Britain The cutting tool is in the process of being expanded. Production started in Australia. The companies are founded in, Chile, and. Turkey Peru Malaysia A recruitment campaign has been launched in Sweden to reduce the existing labour deficit.

1961: New branches opened

In 1961, Jernverket invested in new own sales branches in countries such as Mexico and Australia. A regional office appears in Japan. Major investments in research and development are noted by King Gustav VI Adolf.

1937: The company turns 75

In 1937, the Southern Wire and Lumber Plant was commissioned. Jernverket turns 75 years old, it has branches in, To Argentina,, To Canada Denmark Finland,,,,, France,,, and Norway. To Poland Switzerland Spain Great Britain USA

1934: Jernverket subsidiary in Denmark

In 1934, a subsidiary was founded in Denmark.

1933: Subsidiary of Jernverket in Finland

In 1933, a separate building was built for the electric furnace of steel. The first of six Swedish trading companies was founded in Gothenburg. The subsidiary is based in Finland.

1923: Jernverket subsidiary in France

In 1923, a subsidiary was founded in Paris, France.

1919: Jernverket's first U.S. subsidiary

In 1919, the first subsidiary of Jernverket in the United States was founded with an office in Manhattan in New York.

1910: New President of the Company

In 1910, Anders Henrik Göransson died after 42 years as managing director. Tord Magnuson becomes the new president. Karl Wilhelm Sebardt holds the position of chairman of the board.

1902: Production of steel belts for conveyor units

In 1902, the group began to produce and supply steel belts for conveyor installations.

1901: Registration on the Stockholm Stock Exchange

In 1901, shares of Sandvikens Jernverk AB were listed on the Stockholm Stock Exchange.

1987: Participation in an exhibition in Stockholm

In 1897, Jernverket participated in an exhibition in Stockholm, Sweden.

1872: Participation in the Moscow Exhibition

In 1872, Jernverket took part in the Moscow exhibition. Russia was the company's dominant market in the first half of the 1870s, requiring railroad materials and bayonet steel.

1868: Reorganization

In 1868, the enterprise was reorganized under the name Sandvikens Jernverks AB (also called "Jernverket," metallurgical plant), the plant and equipment were acquired. The eldest son, Anders Henrik Göransson, was officially appointed managing director of the company.

1862: Foundation of the Company

On January 31, 1862, Högbo Stål & Jernwerks AB was founded in Sweden by Joran Fredrik Göransson and his partners^[2].

Notes