News from the Group

Sandvik has appointed Nadine Crauwels as new member of the Sandvik Group Executive Management as of 1 October 2020.

Sandvik Machining Solutions has completed the previously announced divestment of its 10% minority ownership in Gesac, a Chinese joint venture originally formed in 2005.

Sandvik invites institutional investors, financial analysts and financial media to a virtual Capital Markets Day on 3 November.

Sandvik Mining and Rock Technology has signed an agreement to acquire Allied Construction Products LLC (Allied).

As previously communicated Sandvik has initiated measures across the group to mitigate effects from the Covid-19-pandemic, with actions supporting savings both short-term and long-term. Today, Sandvik provides an update on the current status of the cost measures and savings.

Sandvik will publish its second quarter results on Thursday, 16 July 2020 at approximately 11.30 CEST.

Dormer Pramet, a division within Sandvik Machining Solutions, has reached an agreement to acquire the entire business of the Indian company Miranda Tools, comprising manufacture of High Speed Steel and solid carbide round tools.

As communicated in the quarterly report for the first quarter, saving measures have been initiated throughout Sandvik due to the challenging market situation following the Covid-19-pandemic. Today, Sandvik gave notice of layoffs in Sweden for 429 positions within its business area Sandvik Materials Technology.

Sandvik has completed the previously announced acquisition of the cutting tools division of QUIMMCO CENTRO TECNOLÓGICO (QCT).

Göran Björkman, President of Sandvik Materials Technology has been appointed Chairman of the Swedish Association of Industrial Employers (Industriarbetsgivarna).