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{{Multiple issues|section=|
{{Third-party|date=March 2021}}
{{Advert|date=April 2021}}
}}
{{Short description|Swedish engineering company}}
{{Short description|Swedish engineering company}}
{{For|the village in the Faroe Islands|Sandvík}}
{{For|the village in the Faroe Islands|Sandvík}}
Line 8: Line 4:
|name = Sandvik AB
|name = Sandvik AB
|logo = SANDVIK.svg
|logo = SANDVIK.svg
|type = [[Public company|Publicly traded]] [[Aktiebolag]]
|type = [[Public company|Publicly traded]] [[aktiebolag]]
|traded_as = {{OMX|SSE4928|SAND}}
|traded_as = {{OMX|SSE4928|SAND}}
|founder = [[Göran Fredrik Göransson]]
|founder = [[Göran Fredrik Göransson]]
Line 15: Line 11:
|key_people = {{unbulleted list|Johan Molin <small>([[Chairman of the Board]])
|key_people = {{unbulleted list|Johan Molin <small>([[Chairman of the Board]])
</small>|Stefan Widing <small>([[President (corporate title)|President]] and [[CEO]])</small>}}
</small>|Stefan Widing <small>([[President (corporate title)|President]] and [[CEO]])</small>}}
|products = Tools and tooling systems for metal cutting, mining and rock excavation equipment and tools, stainless steel and special alloy products
|products = Equipment and systems for mining, excavation, drilling, rock processing, metal cutting and machining
|homepage = [http://home.sandvik home.sandvik]
|homepage = [https://home.sandvik home.sandvik]
|industry = [[Engineering]]
|industry = [[Engineering]]
|revenue = {{increase}} {{SEK|112.332 billion}}<ref name="IR2022Q4">{{cite web
|revenue = [[Swedish krona|SEK]] 86.409 billion <small>(2020)</small><ref name="AR2020">{{cite web |url=http://www.annualreport.sandvik/en/2020/ |title=Annual Results 2020 |access-date=18 March 2020 |publisher=Sandvik}}</ref>
| url = https://www.home.sandvik/48f028/siteassets/3.-investors/reports-presentations/interim-reports/2022/interim-report-2022-q4.pdf
|operating_income = SEK 11.184 billion <small>(2019)</small><ref name="AR2020" />
| title = Interim report fourth quarter and full year 2022
|net_income = SEK 8.721 billion <small>(2019)</small><ref name="AR2020" />
| date = 20 January 2023
|assets = SEK 119.128 billion <small>(2019)</small><ref name="AR2020" />
| access-date = 22 February 2023
|equity = SEK 65.082 billion <small>(2019)</small><ref name="AR2020" />
| format = PDF
|num_employees= 37,125 <small>(2019)</small><ref name="AR2020" />
| publisher = Sandvik
}}</ref>
|revenue_year = 2022
|operating_income = {{increase}} {{SEK|18.592 billion}}<ref name="IR2022Q4" />
|income_year = 2022
|net_income = {{decrease}} {{SEK|11.225 billion}}<ref name="IR2022Q4" />
|assets_year = 2022
|assets = {{increase}} {{SEK|176.682 billion}}<ref name="IR2022Q4" />
|equity_year = 2022
|equity = {{increase}} {{SEK|81.270 billion}}<ref name="IR2022Q4" />
|num_employees= 40,489<ref name="IR2022Q4" />
|num_employees_year = 2022
}}
}}
'''Sandvik AB''' is a Swedish [[multinational corporation|multinational]] [[engineering]] company specializing in metal cutting, digital and [[3D printing|additive manufacturing]], [[mining]] and construction, [[Stainless steel|stainless]] and special steel [[Alloy|alloys]], and industrial heating. The company was founded in [[Sweden]] in 1862. In 2020, the Sandvik Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries.
'''Sandvik AB''' is a Swedish [[multinational corporation|multinational]] [[engineering]] company specializing in products and services for [[mining]], rock excavation, [[drilling rig|rock drilling]], rock processing ([[crusher|crushing]] and [[mechanical screening|screening]]), [[metal cutting]] and [[machining]]. The company was founded in [[Gävleborg County]], Sweden, in 1862. In 2022, it had approximately 40,500 employees and a revenue of 112 billion SEK, with sales in around 150 countries.<ref name="IR2022Q4" /><ref name="AR2021">{{cite web
| url = https://www.annualreport.sandvik/en/2021/servicepages/downloads/files/entire-en-svk-ar21.pdf
| title = Annual report 2021
| year = 2022
| access-date = 22 February 2023
| format = PDF
| publisher = Sandvik
}}</ref><ref name="SandvikGlance">{{cite web
| url = https://www.home.sandvik/en/about-us/our-company/
| title = Sandvik at a glance
| access-date = 22 February 2023
| publisher = Sandvik
}}</ref>


[[File:Göran Fredrik Göransson Svenska industriens män.jpg|thumb|Göran Fredrik Göransson, founder of Sandvik.]]
[[File:Göran Fredrik Göransson Svenska industriens män.jpg|thumb|Göran Fredrik Göransson, founder of Sandvik]]
[[File:Edske_masugn.jpg|thumb|Ruins of the blast furnace at Edsken, Hofors Municipality, with a half-size replica of a Bessemer converter]]
[[File:Sandvik LH 514 - Ystad-2022.jpg|thumb|LH 514 from Sandvik AB.]]
[[File:Sandvik TH 545i - Ystad - 2022.jpg|thumb|TH 545i from Sandvik AB.]]
[[File:Sandvik LH 514 - Ystad-2022.jpg|thumb|LH 514 loader from Sandvik]]
[[File:Sandvik_LH517_LHD.JPG|thumb|LH 517 loader from Sandvik]]
[[File:Sandvik Västberga industriområde, 2015b.jpg|thumb|"AB Sandvik Hard Materials". Facade sculpture on Sandvik's property in Västberga industrial area.]]
[[File:Sandvik TH 545i - Ystad - 2022.jpg|thumb|TH 545i dump truck from Sandvik]]
[[File:Sandvik Västberga industriområde, 2015b.jpg|thumb|"AB Sandvik Hard Materials", wall sculpture on Sandvik's property in Västberga industrial area]]


==History==
==History==


=== The beginning ===
=== 1800s ===
The company was founded by [[Göran Fredrik Göransson]] in 1862. He was an early user of the [[Bessemer process]] on an industrial scale. The company started as Högbo Stål & Jernverks AB in Sandviken, Sweden and was later reorganized as Sandvikens Jernverk (Ironworks) AB in 1868. The Sandvik brand name was first used officially in 1876 when Sandvik began selling products in the [[United States|USA]]. Sandvikens Jernverk was introduced on the [[Nasdaq Stockholm|Stockholm Stock Exchange]] in 1901.
The company was founded by [[Göran Fredrik Göransson]], who was an early user of the [[Bessemer process]]. In 1857, he acquired rights to use the [[patent]]ed process and initially applied it in a [[blast furnace]] at Edsken, [[Hofors Municipality]]. There, he became the first user of the process to achieve techincally and commercially acceptable results. However, production at sufficient scale was not possible in the initial location. This prompted the foundation, in 1862, of a new company, ''Högbo Stål &amp; Jernverks AB'', in a place that developed into the town of [[Sandviken]].<ref name="nf1916sandviken">{{Runeberg
|filename=nfcd
|htmlno=0362
|chapter=Sandviken
|year=1916
|name=Nordisk Familjebok
|language = sv
}}</ref><ref name="NE_bessemerprocessen">{{cite web
| url = https://www.ne.se/uppslagsverk/encyklopedi/lång/bessemerprocessen
| title = Bessemerprocessen
| access-date = 22 February 2023
| website = Nationalencyklopedin
| first = John-Olof
| last = Edström
| language = sv
}}</ref><ref name="SandvikJourney2012">{{cite book
| url = https://www.home.sandvik/490096/contentassets/1967747fe4434c14b7e8186707d2d39f/the_sandvik_journey-_-eng.pdf
| title = The Sandvik journey : The first 150 years
| isbn = 978-91-7126-247-9
| year = 2012
| first = Ronald
| last = Fagerfjäll
| access-date = 22 February 2023
| format = PDF
| location = Stockholm
| publisher = Bokförlaget Max Ström
}}</ref>


Already in the 1860s, the company was exporting its products. The [[United Kingdom]], [[Germany]], [[France]] and [[Russia]] were important markets. In 1868, the company was reorganized as ''Sandvikens Jernverks AB'' (the Sandviken Ironworks). The ''Sandvik'' brand name was first used by the company at the [[Centennial International Exhibition]] of 1876 in [[Philadelphia]]. The following year, sales to the [[United States]] began.<ref name="nf1916sandviken" /><ref name="SandvikJourney2012" /><ref name="Jernverk1937">{{Runeberg
In the 1860s, sales were conducted through trading houses in Sweden, [[Norway]], [[Denmark]], the [[United Kingdom|UK]], [[Russia]], [[Germany]] and [[France]]. In 1914 the company opened its first sales subsidiary in the UK. This was the start of a long period of expansion as subsidiaries were opened around the world.
|filename=sandviken
|year=1937
|name=Ett svenskt jernverk : Sandviken och dess utveckling 1862-1937
|first=Göran
|last=Hedin
|location=Uppsala
|publisher=[[Almqvist &amp; Wiksell]]
|language=sv
}}</ref>


In 1889, the company became the first Swedish manufacturer of seamless rolled [[tube drawing|tubes]], and over the following decade, it made substantial investments in methodology development and production facilities for seamless tubes.<ref name="Jernverk1937" />
=== Early years ===
Sandvikens Jernverk introduced the first seamless tubes made of stainless steels on the market in 1924 and by 1934 was the first in [[Europe]] to perform [[wiktionary:pilgering|pilgering]] of tubes on an industrial scale. The Second World War forced the company to reorganize production. In 1942, the Sandvik Coromant brand was established and the first cemented-carbide tools for metalworking were manufactured a year later. [[Bessemer process|Bessemer]] steel production was discontinued in 1947.


=== 1900–1980 ===
By 1967 Sandvikens Jernverk had 40 subsidiaries and sales in 100 countries. The company changed its name to Sandvik AB in 1972 and many new factories and acquisitions followed, including Osprey. Cemented carbide production took off and the first Rotoform equipment was developed.
Sandvikens Jernverk was listed on the [[Nasdaq Stockholm|Stockholm Stock Exchange]] in 1901.<ref name="SandvikJourney2012" />

In 1907, production of hollow rock drill steels began, and by the 1920s, the company was considered internationally leading in that product area.<ref name="SandvikJourney2012" /><ref name="NE_Sandvik">{{cite web
| url = https://www.ne.se/uppslagsverk/encyklopedi/lång/sandvik-ab
| title = Sandvik AB
| first1 = Carl
| last1 = Lindberg
| first2 = Sten
| last2 = Persson
| access-date = 22 February 2023
| website = Nationalencyklopedin
| language = sv
}}</ref>

In 1914, the company established its first sales subsidiary outside of Sweden, in [[Birmingham]], UK. Further foreign subsidiaries were opened 1919 in the United States, 1923 in France, and 1926 in [[Canada]].<ref name="SandvikJourney2012" />

In the 1920s, the company began melting [[stainless steel]], and in 1924, it started producing its first stainless seamless tubes. In 1932, it acquired a license to use a new method for cold-rolling tubes, called [[wiktionary:pilgering|pilgering]], and in 1934, it became the first European company to use the method at industrial scale.<ref name="SandvikJourney2012" /><ref name="Jernverk1937" />

In 1937, there were subsidiaries in 37 countries.<ref name="NE_Sandvik" />

[[World War II]] forced the company to reorganize production. Exports were halved, but demaned from the Swedish military for grenades prevented a corporate crisis.<ref name="SandvikJourney2012" />

Already before the war, the company had wanted to enter the [[cemented carbide]] tool market, but the patent situation was complicated, and it was unable to find a suitable business partner. However, in 1942, it entered into an agreement with the ''Lumalampan'' subsidiary of [[Kooperativa Förbundet]]. Lumalampan mainly produced [[tungsten light bulb]]s but also made [[tungsten carbide]] tips for grenades, as well as its own carbide tools for filament [[wire drawing]], and thus possessed the required technology. In the same year, the ''Sandvik Coromant'' brand was registered for cemented carbide products, and the company started working on tools for metal cutting and rock drilling. Metal cutting tools were successfully produced beginning in 1943, but it took several more years to develop sufficiently durable rock drilling tools.<ref name="SandvikJourney2012" />

[[Bessemer process|Bessemer]] steel production was discontinued in Sandviken in 1947. In the same year, the company became the exclusive supplier of cemented carbide rock drill steels to ''Atlas Diesel'' (later known as [[Atlas Copco]]).<ref name="SandvikJourney2012" />

In the 1950s, the company expanded its cemented carbide production capacity by building factories in new locations. A workshop that was opened in the small town of [[Gimo, Sweden|Gimo]] in 1951 gradually expanded into a major production facility, and in 1953, a factory was opened in the Västberga district of [[Stockholm]]. By then, rock drills had emerged as the most important cemented carbide product area for the company.<ref name="SandvikJourney2012" /><ref name="nf1957sandviken">{{Runeberg
|filename=nffr
|htmlno=0442
|chapter=Sandvikens jernverks ab.
|year=1957
|name=Nordisk Familjebok
|language = sv
}}</ref>

In 1967, Sandvikens Jernverk had 40 subsidiaries and sales in 100 countries. The company changed its name to ''Sandvik AB'' in 1972.<ref name="SandvikJourney2012" />

In 1979, Sandvik acquired the British company ''Osprey''.<ref name="SandvikJourney2012" />

Steel [[conveyor belt]]s of various types had been part of the product range since 1902, and in 1980, a conveyor-belt-based system called ''Rotoform'' for [[granulation]] of liquid chemicals was developed.<ref name="SandvikJourney2012" />


=== 1980–2000 ===
=== 1980–2000 ===
Sandvik experienced a substantial decline in 1982-1983 and in 1983 the company recorded its first loss in 62 years. Restructuring measures, a new, decentralized organization and focus on strong areas brought earnings and profitability back on track in only a couple of years.
In 1980, profits began to fall, and over the following years, there were personnel reductions, restructuring efforts and divestments. Still, in 1983, the company recorded its first loss in 62 years. In 1984, the organization was made more decentralized.<ref name="SandvikJourney2012" />

In 1989, Sandvik began investing in [[Eastern Europe]].<ref name="SandvikJourney2012" />

In 1994, production at industrial scale of diamond-coated carbide cutting inserts began. In 1996, a new stainless steel called ''Safurex'' was developed.<ref name="SandvikJourney2012" />


In 1997, Sandvik acquired a majority of the Swedish company ''Kanthal AB'', which specialized in metallic electrical resistance products and high-temperature ceramic materials. Also, in the same year, Sandvik bought all remaining shares in the Finnish company ''Tamrock'', a manufacturer of mining equipment in which it previously had a minority holding.<ref name="SandvikJourney2012" />
Sandvik began investing in Eastern Europe in 1989 and subsidiaries and plants were opened in Eastern Europe and Asia.


In 1999, Sandvik divested its production of saws and other craft tools.<ref name="SandvikJourney2012" />
In 1994, Sandvik started producing diamond-coated carbide cutting inserts on an industrial scale. Safurex®, a high-alloy duplex stainless steel, was developed in 1996. In 1999, Sandvik divested its Saws and Tools business areas.


=== 2000 to present ===
=== 2000 to present ===
In 2001, Sandvik started testing a new system named ''Automine'' for automation and remote control of mining equipment in mines in Canada and Sweden.<ref name="SandvikJourney2012" />
Automation and remote control of mining equipment, Automine®, was introduced in mines in Canada and Sweden in 2001. In 2004, Sandvik's Kanthal division developed the production of high-temperature alloys via powder metallurgy. In 2002, Sandvik acquired a majority shareholding in German tool manufacturer Walter and Austrian tungsten producer Wolfram Bergbau und Hütten was acquired in 2009. In 2014, Sandvik companies Dormer, Safety, Impero and Pramet came together to create Dormet Pramet.


In 2002, Sandvik acquired a majority position in the German cutting tool manufacturer ''Walter AG''.<ref name="SandvikJourney2012" />
In 2017, the divestments of Process Systems and Mining Systems were completed.


In 2004, the Kanthal division developed new [[alloy]] production methods with high-temperature [[powder metallurgy]].<ref name="SandvikJourney2012" />
In March 2022, it was announced that Sandvik had acquired the mine planning software provider, Deswik with the latter becoming part of Sandvik Mining and Rock Solutions’ business division, Digital Mining Technologies.<ref>{{Cite web |title=Sandvik completes Deswik acquisition |url=https://www.itpro.co.uk/business-strategy/acquisition/367299/sandvik-completes-deswik-acquisition |access-date=2022-04-04 |website=IT PRO |language=en}}</ref>

In 2009, Sandvik bought the Austrian company ''Wolfram Bergbau'', which was focused on [[tungsten]] production, from mining to cemented-carbide powder.<ref name="SandvikJourney2012" />

In 2017, Sandvik divested its ''Process Systems'' and ''Mining Systems'' operations, both of which were related to conveyor technology.<ref name="SandvikProcessSystems">{{cite web
| url = https://www.home.sandvik/en/sandvik-process-systems/
| title = Sandvik Process Systems
| access-date = 22 February 2023
| publisher = Sandvik
}}</ref><ref name="Sandvik2017MiningSystems">{{cite web
| url = https://www.home.sandvik/en/news-and-media/news/2017/11/sandvik-completes-the-mining-systems-divestment/
| title = Sandvik completes the Mining Systems divestment
| date = 2 November 2017
| access-date = 22 February 2023
| publisher = Sandvik
}}</ref>

In 2022, Sandvik bought the Australian mine planning software provider ''Deswik''.<ref>{{Cite web
|title=Sandvik completes Deswik acquisition
|url=https://www.itpro.co.uk/business-strategy/acquisition/367299/sandvik-completes-deswik-acquisition
|first=Praharsha
|last=Anand
|date=4 April 2022
|access-date=22 February 2023
|website=IT Pro
}}</ref>

In August 2022, the business area ''Sandvik materials technology'', which included tubes, [[strip steel]], medical wires and Kanthal-brand heating technology products, was spun off as a separate company, publicly listed at Nasdaq Stockholm. The new company was named ''Alleima'', and its shares were distributed to the shareholders of Sandvik.<ref name="IR2022Q4" /><ref name="AR2021" /><ref name="DN2022Alleima">{{cite news
| url = https://www.dn.se/ekonomi/stockholmsborsen-oppnar-uppat-14/
| title = Stockholmsbörsen öppnar uppåt
| date = 31 August 2022
| access-date = 22 February 2023
| newspaper = [[Dagens Nyheter]]
| language = sv
}}</ref>


==See also==
==See also==
Line 75: Line 209:
[[Category:Tool manufacturing companies of Sweden]]
[[Category:Tool manufacturing companies of Sweden]]
[[Category:Mining equipment companies]]
[[Category:Mining equipment companies]]
[[Category:Steel companies of Sweden]]
[[Category:Subterranean excavating equipment companies]]
[[Category:Subterranean excavating equipment companies]]
[[Category:Swedish brands]]
[[Category:Swedish brands]]
Line 82: Line 215:
[[Category:Companies based in Bonifacio Global City]]
[[Category:Companies based in Bonifacio Global City]]
[[Category:Multinational companies headquartered in Sweden]]
[[Category:Multinational companies headquartered in Sweden]]



{{Sweden-company-stub}}
{{Sweden-company-stub}}

Revision as of 04:41, 23 February 2023

For the village in the Faroe Islands, see Sandvík.
Sandvik AB
Company typePublicly traded aktiebolag
Nasdaq Stockholm: SAND
ISINSE0000667891
US8002122013 Edit this on Wikidata
IndustryEngineering
Founded1862; 163 years ago (1862)
FounderGöran Fredrik Göransson
HeadquartersStockholm, Sweden
Key people
ProductsEquipment and systems for mining, excavation, drilling, rock processing, metal cutting and machining
RevenueIncrease 112.332 billion kr[1] (2022)
Increase 18.592 billion kr[1] (2022)
Decrease 11.225 billion kr[1]
Total assetsIncrease 176.682 billion kr[1] (2022)
Total equityIncrease 81.270 billion kr[1] (2022)
Number of employees
40,489[1] (2022)
Websitehome.sandvik

Sandvik AB is a Swedish multinational engineering company specializing in products and services for mining, rock excavation, rock drilling, rock processing (crushing and screening), metal cutting and machining. The company was founded in Gävleborg County, Sweden, in 1862. In 2022, it had approximately 40,500 employees and a revenue of 112 billion SEK, with sales in around 150 countries.[1][2][3]

Göran Fredrik Göransson, founder of Sandvik
Ruins of the blast furnace at Edsken, Hofors Municipality, with a half-size replica of a Bessemer converter
LH 514 loader from Sandvik
LH 517 loader from Sandvik
TH 545i dump truck from Sandvik
"AB Sandvik Hard Materials", wall sculpture on Sandvik's property in Västberga industrial area

History

1800s

The company was founded by Göran Fredrik Göransson, who was an early user of the Bessemer process. In 1857, he acquired rights to use the patented process and initially applied it in a blast furnace at Edsken, Hofors Municipality. There, he became the first user of the process to achieve techincally and commercially acceptable results. However, production at sufficient scale was not possible in the initial location. This prompted the foundation, in 1862, of a new company, Högbo Stål & Jernverks AB, in a place that developed into the town of Sandviken.[4][5][6]

Already in the 1860s, the company was exporting its products. The United Kingdom, Germany, France and Russia were important markets. In 1868, the company was reorganized as Sandvikens Jernverks AB (the Sandviken Ironworks). The Sandvik brand name was first used by the company at the Centennial International Exhibition of 1876 in Philadelphia. The following year, sales to the United States began.[4][6][7]

In 1889, the company became the first Swedish manufacturer of seamless rolled tubes, and over the following decade, it made substantial investments in methodology development and production facilities for seamless tubes.[7]

1900–1980

Sandvikens Jernverk was listed on the Stockholm Stock Exchange in 1901.[6]

In 1907, production of hollow rock drill steels began, and by the 1920s, the company was considered internationally leading in that product area.[6][8]

In 1914, the company established its first sales subsidiary outside of Sweden, in Birmingham, UK. Further foreign subsidiaries were opened 1919 in the United States, 1923 in France, and 1926 in Canada.[6]

In the 1920s, the company began melting stainless steel, and in 1924, it started producing its first stainless seamless tubes. In 1932, it acquired a license to use a new method for cold-rolling tubes, called pilgering, and in 1934, it became the first European company to use the method at industrial scale.[6][7]

In 1937, there were subsidiaries in 37 countries.[8]

World War II forced the company to reorganize production. Exports were halved, but demaned from the Swedish military for grenades prevented a corporate crisis.[6]

Already before the war, the company had wanted to enter the cemented carbide tool market, but the patent situation was complicated, and it was unable to find a suitable business partner. However, in 1942, it entered into an agreement with the Lumalampan subsidiary of Kooperativa Förbundet. Lumalampan mainly produced tungsten light bulbs but also made tungsten carbide tips for grenades, as well as its own carbide tools for filament wire drawing, and thus possessed the required technology. In the same year, the Sandvik Coromant brand was registered for cemented carbide products, and the company started working on tools for metal cutting and rock drilling. Metal cutting tools were successfully produced beginning in 1943, but it took several more years to develop sufficiently durable rock drilling tools.[6]

Bessemer steel production was discontinued in Sandviken in 1947. In the same year, the company became the exclusive supplier of cemented carbide rock drill steels to Atlas Diesel (later known as Atlas Copco).[6]

In the 1950s, the company expanded its cemented carbide production capacity by building factories in new locations. A workshop that was opened in the small town of Gimo in 1951 gradually expanded into a major production facility, and in 1953, a factory was opened in the Västberga district of Stockholm. By then, rock drills had emerged as the most important cemented carbide product area for the company.[6][9]

In 1967, Sandvikens Jernverk had 40 subsidiaries and sales in 100 countries. The company changed its name to Sandvik AB in 1972.[6]

In 1979, Sandvik acquired the British company Osprey.[6]

Steel conveyor belts of various types had been part of the product range since 1902, and in 1980, a conveyor-belt-based system called Rotoform for granulation of liquid chemicals was developed.[6]

1980–2000

In 1980, profits began to fall, and over the following years, there were personnel reductions, restructuring efforts and divestments. Still, in 1983, the company recorded its first loss in 62 years. In 1984, the organization was made more decentralized.[6]

In 1989, Sandvik began investing in Eastern Europe.[6]

In 1994, production at industrial scale of diamond-coated carbide cutting inserts began. In 1996, a new stainless steel called Safurex was developed.[6]

In 1997, Sandvik acquired a majority of the Swedish company Kanthal AB, which specialized in metallic electrical resistance products and high-temperature ceramic materials. Also, in the same year, Sandvik bought all remaining shares in the Finnish company Tamrock, a manufacturer of mining equipment in which it previously had a minority holding.[6]

In 1999, Sandvik divested its production of saws and other craft tools.[6]

2000 to present

In 2001, Sandvik started testing a new system named Automine for automation and remote control of mining equipment in mines in Canada and Sweden.[6]

In 2002, Sandvik acquired a majority position in the German cutting tool manufacturer Walter AG.[6]

In 2004, the Kanthal division developed new alloy production methods with high-temperature powder metallurgy.[6]

In 2009, Sandvik bought the Austrian company Wolfram Bergbau, which was focused on tungsten production, from mining to cemented-carbide powder.[6]

In 2017, Sandvik divested its Process Systems and Mining Systems operations, both of which were related to conveyor technology.[10][11]

In 2022, Sandvik bought the Australian mine planning software provider Deswik.[12]

In August 2022, the business area Sandvik materials technology, which included tubes, strip steel, medical wires and Kanthal-brand heating technology products, was spun off as a separate company, publicly listed at Nasdaq Stockholm. The new company was named Alleima, and its shares were distributed to the shareholders of Sandvik.[1][2][13]

See also

References

  1. ^ a b c d e f g h "Interim report fourth quarter and full year 2022" (PDF). Sandvik. 20 January 2023. Retrieved 22 February 2023.
  2. ^ a b "Annual report 2021" (PDF). Sandvik. 2022. Retrieved 22 February 2023.
  3. ^ "Sandvik at a glance". Sandvik. Retrieved 22 February 2023.
  4. ^ a b "Sandviken". Nordisk Familjebok (in Swedish). 1916 – via Project Runeberg.
  5. ^ Edström, John-Olof. "Bessemerprocessen". Nationalencyklopedin (in Swedish). Retrieved 22 February 2023.
  6. ^ a b c d e f g h i j k l m n o p q r s t u v Fagerfjäll, Ronald (2012). The Sandvik journey : The first 150 years (PDF). Stockholm: Bokförlaget Max Ström. ISBN 978-91-7126-247-9. Retrieved 22 February 2023.
  7. ^ a b c Hedin, Göran (1937). Ett svenskt jernverk : Sandviken och dess utveckling 1862-1937 (in Swedish). Uppsala: Almqvist & Wiksell – via Project Runeberg.
  8. ^ a b Lindberg, Carl; Persson, Sten. "Sandvik AB". Nationalencyklopedin (in Swedish). Retrieved 22 February 2023.
  9. ^ "Sandvikens jernverks ab.". Nordisk Familjebok (in Swedish). 1957 – via Project Runeberg.
  10. ^ "Sandvik Process Systems". Sandvik. Retrieved 22 February 2023.
  11. ^ "Sandvik completes the Mining Systems divestment". Sandvik. 2 November 2017. Retrieved 22 February 2023.
  12. ^ Anand, Praharsha (4 April 2022). "Sandvik completes Deswik acquisition". IT Pro. Retrieved 22 February 2023.
  13. ^ "Stockholmsbörsen öppnar uppåt". Dagens Nyheter (in Swedish). 31 August 2022. Retrieved 22 February 2023.

Further reading

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