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Sandvik AB is a Swedish multinational engineering company specializing in metal cutting, digital and additive manufacturing, mining and construction, stainless and special steel alloys, and industrial heating. The company was founded in Sweden in 1862. In 2021, the Sandvik Group had approximately 44,133 employees and revenues of about SEK 99 billion.

The beginning
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 USA. Sandvikens Jernverk was introduced on the Stockholm Stock Exchange in 1901.

In the 1860s, sales were conducted through trading houses in Sweden, Norway, Denmark, the 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.

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 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 steel production was discontinued in 1947.

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.

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.

Sandvik began investing in Eastern Europe in 1989 and subsidiaries and plants were opened in Eastern Europe and Asia.

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
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 2017, the divestments of Process Systems and Mining Systems were completed.

In October 2021, Sandvik announced that the business area Sandvik Materials Technology would be listed on Nasdaq Stockholm. In 2022, the business area was renamed from Sandvik Materials Technology to Alleima, and Alleima was listed on Nasdaq Stockholm August 31, 2022.

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.

Key people
Sandvik’s board after the annual general meeting in 2021:

Ownership structure
The share of foreign ownership as a percentage of the capital was 58.9 percent as of August 31, 2022.

Ownership structure, the ten largest shareholder group as of August 31, 2022.


 * Sandvik Manufacturing and Machining Solutions encompasses two business segments, Sandvik Manufacturing solutions and Sandvik Machining Solutions. Sandvik Machining Solutions consists of five business divisions for example (Sandvik Coromant, Seco Tools, Dormer Pramet, Walter, Wolfram) and together the divisions provides tools, tooling systems and services for machining operations such as turning, milling and drilling.  milling  turning .  drilling-underground,surface and rotary

The business segment Sandvik Manufacturing Solutions consists of three divisions (Design and Planning Automation, Additive Manufacturing and Industrial Metrology)    and the divisions provides digital manufacturing, additive manufacturing, industrial metrology and software solutions.


 * Sandvik Mining and Rock Solutions consists of nine divisions for example (Underground Drilling, Load and Haul, Surface Drilling, Rotary Drilling, Mechanical Cutting, Rock Tools, Ground Support, Digital Mining Technologies, Parts and Services) that either provide equipment, tools, parts, services and technical solutions for the mining and infrastructure industries.

Rotary drill part of the business area


 * Sandvik Rock Processing Solutions consists of four divisions (Stationary Crushing and Screening, Mobile Crushing and Screening, Attachment Tools, Shanbao) and the divions produces equipment, tools, parts, services and solutions for processing rock and minerals in the mining and infrastructure industries.

Operations
The table below presents an overview of Sandvik's operations as of 2021:

Products
Sandvik AB is a Swedish multinational engineering company specializing in metal cutting, digital and additive manufacturing, mining and construction, stainless and special steel alloys, and industrial heating.