Sandvík

Sandvik AB

Type	Publicly traded Aktiebolag (Nasdaq Stockholm: SAND)
Industry	Engineering
Founded	1862; 155 years ago (1862)
Headquarters	, 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)
Operating income	SEK 11.018 billion (2016)
Profit	SEK 5.468 billion (2016)
Total assets	SEK 103.500 billion (end 2016)
Total equity	SEK 39.290 billion (end 2016)
Number of employees	47,328 (2016)
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). Sandvik was the first company to commercially exploit the Bessemer Steel process. The first blast furnace was installed by an English engineer and is now on display in a park in Sandviken.

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

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.

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.

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

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