Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. In 2008 the Group had 50,000 employees and sales of approximately SEK 93 billion.
Sandvik's business concept is based on a unique competence in materials technology. This has resulted in a world-leading position in three core areas:
Cemented-carbide and high-speed steel tools for metalworking applications and blanks and components made of cemented carbide and other hard materials.
Machinery, equipment and tools for rock-excavation.
Stainless and high-alloy steels, special metals, resistance materials and process systems.
Business concept
Sandvik shall develop, manufacture and market highly processed products, which contribute to improve the productivity and profitability of our customers. Operations are primarily concentrated on areas where Sandvik is – or has the potential to become – a world leader.
Ownership
The largest shareholders, in percent of voting rights 31 December 2008, were AB Industrivärden (11.5), J.P. Morgan Chase Bank (10.5) and Svenska Handelsbanken's Pension Foundation (4.0). See Top Ten shareholders.
Group executive management
Clas Åke Hedström is Chairman of the Board and Lars Pettersson President and Chief Executive Officer of Sandvik AB.
Organization / Business areas
Research and development
The Sandvik Group is firmly committed to research. In 2008, SEK 2,811 M (3% of invoiced sales) was invested in research and development and quality assurance, an area which employs more than 2,300 persons.
