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Capacity alignment of wire production at Sandvik Steel

A review is under way of Sandvik Steel's Wire Division.

The Division's profitability is clearly unsatisfactory, due in part to the fact that the overall production capacity is too high. The review shows that the current five production units should be reduced to four in order to improve efficiency, reduce costs and increase profitability. One alternative is to phase out Gusab Stainless AB in Mjölby, Sweden, which in such case would mean that production of spring wire would be transferred to other units in the Wire Division.

Consequently, a work group has now been appointed, comprising representatives of union organizations and the company, with the task of studying the review documentation and discussing various solutions prior to a decision being taken. This work is expected to take approximately two months.

Sandviken, 18 February 2002

AB Sandvik Steel