Petra Einarsson was appointed head of the Sandvik Materials Technology business area Sandvik’s first female business area president. The Group invested in additive manufacturing, 3D printing.
New research centers were established in India and China. The Group was also ranked in the corresponding list in the business magazine Forbes. Sandvik was included in the Thomson Reuters’ list of the 100 most innovative companies in the world. Divestment of a distribution business for stainless steel products in Australia and New Zealand and a power spring business in the US and Mexico, both defined as non-core businesses. Sandvik acquired Varel International Energy Services, thereby strengthening its offering of solutions for a growing energy market. As a result of efficiency programs, 11 site closures were initiated. Sandvik acquired the Dutch company SGL Technology, a manufacturer of processing equipment for the food production industry. Sandvik announced the intention to divest its Mining Systems operations, a supplier of material handling systems for the mining industry. President Olof Faxander left the company and was succeeded by Björn Rosengren. Johan Molin was elected new chairman for Sandvik.
Inclusion in the sustainability indexes Dow Jones Sustainability Index, the FTSE4Good Index Series and the Ethibel Sustainability Index (ESI) Excellence Europe. The Lost time injury frequency (LTIFR) declined to 1.7 (2.2), an all-time low in Sandvik’s history. 2016Ī new strategy was introduced, focusing on decentralization and decision-making closer to customers. Inclusion in the 2017 Dow Jones Sustainability Index. Agreements to divest the welding wire business and Hyperion were signed. Divestments of Process Systems and Mining Systems were completed. The financial targets were achieved ahead of schedule. Improved profitability and a strong cash flow.
Sandvik acquired the French metrology software company Metrologic Group and divested its stainless wire business. Sandvik was recognized as one of the most sustainable companies in the world (Global 100 Most Sustainable Corporations in the World) by Corporate Knights. Stefan Widing was appointed new President and CEO. A greenfield titanium powder plant was inaugurated in Sandviken, Sweden. An internal separation of Sandvik Materials Technology within the Sandvik Group was initiated. Several strategic acquisitions, for example within electric battery solutions, wireless connectivity and round tools, were completed. Sandvik signed an agreement to divest the majority of Drilling and Completions (Varel). Advanced stainless steels and special alloys as well as products for industrial heating.Equipment and tools, service and technical solutions for the mining and infrastructure industries.Tools and tooling systems for industrial metal cutting.Today, Sandvik's operations are concentrated on the following core areas: View a list of acquisitions in the Investors section In addition to organic growth, Sandvik's expansion has also involved a series of company acquisitions over the years.
The company has continuously developed its offerings, including new technologies. In 1972, the company name was changed to Sandvik AB, and in 1984, a new type of organization was introduced, with a parent company and separate business areas. Production of cemented-carbide tools began in the 1950s in Gimo, Sweden. The manufacturing of stainless steel began in 1921 and cemented carbide in 1942. The company's listing on the Stockholm Stock Exchange took place in 1901. As early as the 1860s, the product range included drill steel for rock-drilling.