News archive

Sandvik AB has acquired all shares outstanding in Poland's largest company for cemented-carbide metalcutting tools, Sandvik Baildonit SA in Katowice.

Sandvik has formed a joint-venture company in Korea with Suh Jun Trading Co, distributors of rock-drilling equipment and tools.

Sandvik's subsidiary Kanthal AB has reached an agreement covering the acquisition of the American company MRL Industries, Inc. Based in California, the company is the world's largest manufacturer of furnace cassettes for the electronics industry.

As has previously been announced, the Swedish Supreme Administrative Court 24 June 1998 disallowed depreciation deductions in connection with aircraft leasing.

Sweden's Supreme Administrative Court today opposed the decisions made earlier by lower courts and rejected tax deductions related to the leasing of aircraft via Swedish limited partnership companies to international aircraft companies.

In his address to the shareholders at Sandvik AB's Annual General Meeting on 6 May 1998 in Sandviken, Chief Executive Officer Clas Åke Hedström commented on the eventful 1997 fiscal year and the strong first quarter this year, with an increase in invoiced sales of 47% including company acquisitions.

Sandvik has reached an agreement covering the acquisition of the German company Poppe & Potthoff's unit for production of stainless steel precision tube.

The world-leading cemented carbide tool supplier, Sandvik Coromant, has inaugurated its new plant in Langfang City, 40 km Southeast of Beijing.