Sandvik AB history, profile and corporate video
Sandvik AB engages in the development and manufacture of tools for mining and construction. It operates through the following segments: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction, and Sandvik Venture. It provides tools for metal cutting in cemented carbide and high speed steel as well as components in cemented carbide equipment and tools for the mining and construction industries and products in ceramic resistance materials and process systems. The company was founded by Goran Fredrik Goransson in 1862 and is headquartered in Sandviken, Sweden.“
The Company was founded in 1862 by Göran Fredrik Göransson, who was first in the world to succeed in using the Bessemer method for steel production on an industrial scale. At an early stage, operations focused on high quality and added value, investments in R&D, close contact with customers, and exports. This is a strategy that has remained unchanged through the years.
As early as the 1860s, the product range included drill steel for rock-drilling. The Company’s listing on the Stockholm Stock Exchange took place in 1901. The manufacturing of stainless steel began in 1921 and cemented carbide in 1942. Production of cemented-carbide tools was begun in the 1950s in Gimo, Sweden. During the 1960s, a comprehensive investment program was carried out at the main plant in Sandviken. In 1972, the Company name was changed to Sandvik AB, and in 1984, a decentralized organization was introduced, with a parent company, separate business areas, regional companies and service companies.
In addition to organic growth, Sandvik’s expansion has also involved a series of company acquisitions over the years. Recent examples include Kanthal, which manufactures metallic and ceramic resistance materials, and Tamrock, the Finnish manufacturer of rock-excavation machinery – both of which were acquired in 1997.
In 1999, the Saws and Tools business area was divested and Sandvik’s operations were concentrated on three core areas: Tooling, Mining and Construction and Specialty Steels. Since 1 January 2012 there are five business areas: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction and Sandvik Venture.”
*Information from Forbes.com and Sandvik.com
**Video published on YouTube by “sandvik“