From electric mining equipment and digital component manufacturing to eco-efficient rock processing: President and CEO Stefan Widing outlines how Sandvik will excel in tomorrow’s world.
Over the past few years, Sandvik has undergone a major transformation. Parts of the Group have been divested and in 2022 the steel and alloy business was separated and listed on Nasdaq Stockholm as Alleima. There have also been many acquisitions in areas such as software solutions, solid round tools, medical and ground support.
For Stefan Widing, President and CEO at Sandvik, the transformation is part of a plan to future-proof Sandvik and strengthen the company in selected growth areas.
Widing envisions component manufacturing as an automated process, from start to finish.
“We come from the hardware side with our cutting tools where we are number one in the world. Adding software solutions is a natural step, and together with our knowledge of the machining process, no one will be able to do a better job than us. Our combination of hardware and software is unique,” he says.
Digitalization and automation are strong drivers in the mining sector and Sandvik has strengthened its offering through innovations and acquisitions within, for example, mine planning, ground support and battery diagnostics.
“We see a clear trend towards electric mining equipment, which currently accounts for more than ten percent of new orders.”
Within rock processing there are also positive growth opportunities are positive, directly correlated to the need for more metals and minerals.
"You can't get minerals out of the mine if you don't crush the big rocks into smaller rocks. Crushing and screening is also essential for infrastructure projects, like building roads and houses.”
There are plenty of growth opportunities in all of Sandvik, Widing says. “Ten years from now, I believe Sandvik will be described as one of the world's leading industrial technology companies.”
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In each episode of the podcast Meet Sandvik you will meet different persons that give their perspective on Sandvik. Sometimes it´s an employee telling his or her story. Sometimes you will meet experts discussing how a hot topic can affect Sandvik.