Sandvik is a global leader in solutions within mining and rock processing and metal-cutting and digital manufacturing, based on leading materials and applications know-how for improved productivity. We are in the forefront of the digital transformation in the industries we operate in. Our close relationships with our customers, combined with a decentralized operating model, enable us to adapt faster to current and future needs.
High barriers to entry from leading technology position, capital intensity and materials know-how.
- We spend about 4% of annual revenues on R&D to secure a leading product offering.
- Productivity offering supports value-based pricing.
- We work close to our customers in strategic and long-term relationships to understand their current and future needs and help them become more productive, efficient and sustainable.
We have made important progress in our shift to growth strategy and strengthened our positions going forward by acquiring assets in strategic growth areas such as manufacturing software, solid round tools, mine planning and ground support. Our growth target of 7% will be generated from both from acquired and organic growth. Each division within Sandvik has its own M&A agenda.
In recent years a number of businesses have been divested as they were viewed as non-core to Sandvik or not an area where we believe Sandvik will be a leading supplier. Divestments include Sandvik Drilling & Completions (Varel), Hyperion, Sandvik Process Systems, Wire. In 2022 we separated and listed former business area Sandvik Materials Technology (now Alleima) on Nasdaq Stockholm.
The Sandvik Group conducts operations in three business areas with divisions responsible for research and development (R&D), production and sales of their respective products and services.