News from the Group

On January 1, 2015, Jim Nixon will become President of Sandvik Venture and a member of Sandvik's Group Executive Management.

Sandvik Materials Technology (SMT) is closing down its Die Cutting business in Qingdao, China.

The key focus of Sandvik's Capital Markets Day, which was held in the US on Monday, November 17, was to provide an update on the company's strategic actions to achieve higher returns, reduced earnings volatility and greater exposure to attractive growth areas.

Sandvik Materials Technology is divesting its power spring business in Scranton, US and Nogales, Mexico to Lesjöfors AB, a subsidiary of Beijer Alma.

Jim Nixon has been appointed as President of Sandvik Venture and member of Sandvik's Group Executive Management. He succeeds Tomas Nordahl, who will leave Sandvik for a position outside the Group.

Ann-Sofie Nordh has been appointed new Head of Investor Relations at Sandvik.

The mining industry is in a restraint mode right now. But from a longterm perspective, the demand for metals will undoubtedly resume, says recently appointed Sandvik Mining President Scot Smith.

Sandvik Materials Technology is divesting its distribution business in Australia and New Zealand to Vulcan Steel Ltd.