Editing Sandvik

{{Short description|Swedish engineering company}}
{{For|the village in the Faroe Islands|Sandvík}}
{{Infobox company
 |name = Sandvik AB
 |logo = SANDVIK.svg
 |type = [[Public company|Publicly traded]] [[aktiebolag]]
 |traded_as = {{OMX|SSE4928|SAND}}
 |founder = [[Göran Fredrik Göransson]]
 |foundation = {{start date and age|1862}}
 |location = [[Stockholm]], [[Sweden]]
 |key_people =  {{unbulleted list|Johan Molin <small>([[Chairman of the Board]])
</small>|Stefan Widing <small>([[President (corporate title)|President]] and [[CEO]])</small>}}
 |products = Equipment and systems for mining, excavation, drilling, rock processing, metal cutting and machining
 |homepage = [https://home.sandvik home.sandvik]
 |industry = [[Engineering]]
 |revenue = {{decrease}} {{SEK|122.878 billion}}<ref name="IR2024Q4" />
 |revenue_year = 2024
 |operating_income = {{decrease}} {{SEK|18.420 billion}}<ref name="IR2024Q4" />
 |income_year = 2024
 |net_income = {{decrease}} {{SEK|12.245 billion}}<ref name="IR2024Q4" />
 |assets_year = 2024
 |assets = {{increase}} {{SEK|184.384 billion}}<ref name="IR2024Q4" />
 |equity_year = 2024
 |equity = {{increase}} {{SEK|96.999 billion}}<ref name="IR2024Q4" />
 |num_employees= 41,447 <small>([[full-time equivalent]])</small><ref name="IR2024Q4" />
 |num_employees_year = 2024
}}
'''Sandvik AB''' is a Swedish [[multinational corporation|multinational]] [[engineering]] company specializing in products and services for [[mining]], rock excavation, [[drilling rig|rock drilling]], rock processing ([[crusher|crushing]] and [[mechanical screening|screening]]), [[metal cutting]] and [[machining]]. The company was founded in [[Gävleborg County]], Sweden, in 1862. In 2024, it had approximately 41,000 employees and a revenue of 123 billion SEK, with sales in around 150 countries.<ref name="IR2024Q4">{{cite web
 | url = https://www.home.sandvik/siteassets/investors/reports--presentations/interim-reports/2024/interim-report-q4-2024.pdf
 | title = Interim report fourth quarter and full year 2024
 | year = 2025
 | access-date = 10 February 2025
 | publisher = Sandvik
}}</ref><ref name="AR2023">{{cite web
 | url = https://www.annualreport.sandvik/en/2023/_assets/downloads/entire-en-svk-ar23.pdf
 | title = Annual Report 2023
 | year = 2024
 | access-date = 28 March 2024
 | publisher = Sandvik
}}</ref><ref name="SandvikJourney2012" /><ref name="Presentation2025">{{cite web
 | url = https://www.home.sandvik/siteassets/news--media/sandvik_corporate-presentation-2025.pdf
 | title = Welcome to Sandvik! : Corporate presentation 2025
 | year = 2025
 | access-date = 10 February 2025
 | publisher = Sandvik
}}</ref>
[[File:Sandvik_LH517_LHD.JPG|thumb|LH 517 loader from Sandvik]]
[[File:Göran Fredrik Göransson Svenska industriens män.jpg|thumb|Göran Fredrik Göransson, founder of Sandvik]]
[[File:Edske_masugn.jpg|thumb|Ruins of the blast furnace at Edsken, Hofors Municipality, with a half-size replica of a Bessemer converter]]
[[File:Sandvik LH 514 - Ystad-2022.jpg|thumb|LH 514 loader from Sandvik]]
[[File:Sandvik TH 545i - Ystad - 2022.jpg|thumb|TH 545i dump truck from Sandvik]]
[[File:Sandvik Västberga industriområde, 2015b.jpg|thumb|"AB Sandvik Hard Materials", wall sculpture on Sandvik's property in Västberga industrial area]]

==History==

=== 1800s ===
The company was founded by [[Göran Fredrik Göransson]], who was an early user of the [[Bessemer process]]. In 1857, he acquired rights to use the [[patent]]ed process and initially applied it in a [[blast furnace]] at Edsken, [[Hofors Municipality]]. There, he became the first user of the process to achieve technically and commercially acceptable results. However, production at sufficient scale was not possible in the initial location. This prompted the foundation, in 1862, of a new company, ''Högbo Stål & Jernverks AB'', in a place that developed into the town of [[Sandviken]].<ref name="nf1916sandviken">{{Runeberg
|filename=nfcd
|htmlno=0362
|chapter=Sandviken
|year=1916
|name=Nordisk Familjebok
|language = sv
}}</ref><ref name="NE_bessemerprocessen">{{cite web
 | url = https://www.ne.se/uppslagsverk/encyklopedi/lång/bessemerprocessen
 | title = Bessemerprocessen
 | access-date = 22 February 2023
 | website = Nationalencyklopedin
 | first = John-Olof
 | last = Edström
 | language = sv
}}</ref><ref name="SandvikJourney2012">{{cite book
 | url = https://www.home.sandvik/490096/contentassets/1967747fe4434c14b7e8186707d2d39f/the_sandvik_journey-_-eng.pdf
 | title = The Sandvik journey : The first 150 years
 | isbn = 978-91-7126-247-9
 | year = 2012
 | first = Ronald
 | last = Fagerfjäll
 | access-date = 22 February 2023
 | location = Stockholm
 | publisher = Bokförlaget Max Ström
}}</ref>

Already in the 1860s, the company was exporting its products. The [[United Kingdom]], [[Germany]], [[France]] and [[Russia]] were important markets. In 1868, the company was reorganized as ''Sandvikens Jernverks AB'' (the Sandviken Ironworks). The ''Sandvik'' brand name was first used by the company at the [[Centennial International Exhibition]] of 1876 in [[Philadelphia]]. The following year, sales to the [[United States]] began.<ref name="nf1916sandviken" /><ref name="SandvikJourney2012" /><ref name="Jernverk1937">{{Runeberg
|filename=sandviken
|year=1937
|name=Ett svenskt jernverk : Sandviken och dess utveckling 1862-1937
|first=Göran
|last=Hedin
|location=Uppsala
|publisher=[[Almqvist & Wiksell]]
|language=sv
}}</ref>

In 1889, the company became the first Swedish manufacturer of seamless rolled [[tube drawing|tubes]], and over the following decade, it made substantial investments in methodology development and production facilities for seamless tubes.<ref name="Jernverk1937" />

=== 1900–1980 ===
Sandvikens Jernverk was listed on the [[Nasdaq Stockholm|Stockholm Stock Exchange]] in 1901.<ref name="SandvikJourney2012" />

In 1907, production of hollow rock drill steels began, and by the 1920s, the company was considered internationally leading in that product area.<ref name="SandvikJourney2012" /><ref name="NE_Sandvik">{{cite web
 | url = https://www.ne.se/uppslagsverk/encyklopedi/lång/sandvik-ab
 | title = Sandvik AB
 | first1 = Carl
 | last1 = Lindberg
 | first2 = Sten
 | last2 = Persson
 | access-date = 22 February 2023
 | website = Nationalencyklopedin
 | language = sv
}}</ref>

In 1914, the company established its first sales subsidiary outside of Sweden, in [[Birmingham]], UK. Further foreign subsidiaries were opened 1919 in the United States, 1923 in France, and 1926 in [[Canada]].<ref name="SandvikJourney2012" />

In the 1920s, the company began melting [[stainless steel]], and in 1924, it started producing its first stainless seamless tubes. In 1932, it acquired a license to use a new method for cold-rolling tubes, called [[wiktionary:pilgering|pilgering]], and in 1934, it became the first European company to use the method at industrial scale.<ref name="SandvikJourney2012" /><ref name="Jernverk1937" />

In 1937, there were subsidiaries in 37 countries.<ref name="NE_Sandvik" />

[[World War II]] forced the company to reorganize production. Exports were halved, but demand from the Swedish military for grenades prevented a corporate crisis.<ref name="SandvikJourney2012" />

Already before the war, the company had wanted to enter the [[cemented carbide]] tool market, but the patent situation was complicated, and it was unable to find a suitable business partner. However, in 1942, it entered into an agreement with the ''Lumalampan'' subsidiary of [[Kooperativa Förbundet]]. Lumalampan mainly produced [[tungsten light bulb]]s but also made [[tungsten carbide]] tips for grenades, as well as its own carbide tools for filament [[wire drawing]], and thus possessed the required technology. In the same year, the ''Sandvik Coromant'' brand was registered for cemented carbide products, and the company started working on tools for metal cutting and rock drilling. Metal cutting tools were successfully produced beginning in 1943, but it took several more years to develop sufficiently durable rock drilling tools.<ref name="SandvikJourney2012" />

[[Bessemer process|Bessemer]] steel production was discontinued in [[Sandviken]] in 1947. In the same year, the company became the exclusive supplier of cemented carbide rock drill steels to ''Atlas Diesel'' (later known as [[Atlas Copco]]).<ref name="SandvikJourney2012" />

In the 1950s, the company expanded its cemented carbide production capacity by building factories in new locations. A workshop that was opened in the small town of [[Gimo, Sweden|Gimo]] in 1951 gradually expanded into a major production facility, and in 1953, a factory was opened in the Västberga district of [[Stockholm]]. By then, rock drills had emerged as the most important cemented carbide product area for the company.<ref name="SandvikJourney2012" /><ref name="nf1957sandviken">{{Runeberg
|filename=nffr
|htmlno=0442
|chapter=Sandvikens jernverks ab.
|year=1957
|name=Nordisk Familjebok
|language = sv
}}</ref>

In 1967, Sandvikens Jernverk had 40 subsidiaries and sales in 100 countries. The company changed its name to ''Sandvik AB'' in 1972.<ref name="SandvikJourney2012" />

In 1979, Sandvik acquired the British company ''Osprey''.<ref name="SandvikJourney2012" />

Steel [[conveyor belt]]s of various types had been part of the product range since 1902, and in 1980, a conveyor-belt-based system called ''Rotoform'' for [[granulation]] of liquid chemicals was developed.<ref name="SandvikJourney2012" />

=== 1980–2000 ===
In 1980, profits began to fall, and over the following years, there were personnel reductions, restructuring efforts and divestments. Still, in 1983, the company recorded its first loss in 62 years. In 1984, the organization was made more decentralized.<ref name="SandvikJourney2012" />

In 1989, Sandvik began investing in [[Eastern Europe]].<ref name="SandvikJourney2012" />

In 1994, production at industrial scale of diamond-coated carbide cutting inserts began. In 1996, a new stainless steel called ''Safurex'' was developed.<ref name="SandvikJourney2012" />

In 1997, Sandvik acquired a majority of the Swedish company ''Kanthal AB'', which specialized in metallic electrical resistance products and high-temperature ceramic materials. Also, in the same year, Sandvik bought all remaining shares in the Finnish company ''Tamrock'', a manufacturer of mining equipment in which it previously had a minority holding.<ref name="SandvikJourney2012" />

In 1999, Sandvik divested its production of saws and other craft tools.<ref name="SandvikJourney2012" />

=== 2000 to present ===
In 2001, Sandvik started testing a new system named ''Automine'' for automation and remote control of mining equipment in mines in Canada and Sweden.<ref name="SandvikJourney2012" />

In 2002, Sandvik acquired a majority position in the German cutting tool manufacturer ''Walter AG''.<ref name="SandvikJourney2012" />

In 2004, the Kanthal division developed new [[alloy]] production methods with high-temperature [[powder metallurgy]].<ref name="SandvikJourney2012" />

In 2009, Sandvik bought the Austrian company ''Wolfram Bergbau'', which was focused on [[tungsten]] production, from mining to cemented-carbide powder.<ref name="SandvikJourney2012" />

In 2017, Sandvik divested its ''Process Systems'' and ''Mining Systems'' operations, both of which were related to conveyor technology.<ref name="SandvikProcessSystems">{{cite web
 | url = https://www.home.sandvik/en/sandvik-process-systems/
 | title = Sandvik Process Systems
 | access-date = 22 February 2023
 | publisher = Sandvik
}}</ref><ref name="Sandvik2017MiningSystems">{{cite web
 | url = https://www.home.sandvik/en/news-and-media/news/2017/11/sandvik-completes-the-mining-systems-divestment/
 | title = Sandvik completes the Mining Systems divestment
 | date = 2 November 2017
 | access-date = 22 February 2023
 | publisher = Sandvik
}}</ref>

In 2022, Sandvik bought the Australian mine planning software provider ''Deswik''.<ref>{{Cite web
|title=Sandvik completes Deswik acquisition
|url=https://www.itpro.co.uk/business-strategy/acquisition/367299/sandvik-completes-deswik-acquisition
|first=Praharsha
|last=Anand
|date=4 April 2022
|access-date=22 February 2023
|website=IT Pro
}}</ref>

In August 2022, the business area ''Sandvik materials technology'', which included tubes, [[strip steel]], medical wires and Kanthal-brand heating technology products, was spun off as a separate company, publicly listed at Nasdaq Stockholm. The new company was named ''Alleima'', and its shares were distributed to the shareholders of Sandvik.<ref name="AR2021">{{cite web
 | url = https://www.annualreport.sandvik/en/2021/servicepages/downloads/files/entire-en-svk-ar21.pdf
 | title = Annual report 2021
 | year = 2022
 | access-date = 22 February 2023
 | publisher = Sandvik
}}</ref><ref name="IR2022Q4">{{cite web
 | url = https://www.home.sandvik/48f028/siteassets/3.-investors/reports-presentations/interim-reports/2022/interim-report-2022-q4.pdf
 | title = Interim report fourth quarter and full year 2022
 | date = 20 January 2023
 | access-date = 22 February 2023
 | publisher = Sandvik
}}</ref><ref name="DN2022Alleima">{{cite news
 | url = https://www.dn.se/ekonomi/stockholmsborsen-oppnar-uppat-14/
 | title = Stockholmsbörsen öppnar uppåt
 | date = 31 August 2022
 | access-date = 22 February 2023
 | newspaper = [[Dagens Nyheter]]
 | language = sv
}}</ref>

In August 2023, Sandvik announced it had acquired the [[Cambridge, Ontario]]-headquartered software development company, Postability.<ref>{{Cite web |date=2023-08-03 |title=Sandvik acquires CAM post processing software developer - PES Media |url=https://pesmedia.com/sandvik-acquires-cam-post-processing-software-developer |access-date=2023-08-03 |website=pesmedia.com |language=en}}</ref>

In September 2023, Sandvik adopted a revised visual identity, with a new logotype that contains different graphical elements than the previous one.<ref>{{Cite news
|title=Sandvik adopts new logo and visual identity
|url=https://www.miningmagazine.com/environment/news/1459743/sandvik-unveils-brand-identity
|first=Craig
|last=Guthrie
|date=22 September 2023
|access-date=28 April 2024
|newspaper=Mining Magazine
}}</ref>

== Operations ==

Sandvik divides its operations into three business areas, ''Mining and rock solutions'', accounting for 51 percent of revenues in 2024, ''Rock processing solutions'', accounting for 9 percent, and ''Manufacturing and machining solutions'', accounting for 40 percent.<ref name="Presentation2025" />

=== Mining and rock solutions ===

The mining and rock solutions{{buzzword-inline|date=April 2025}} business area provides vehicles for loading and hauling minerals, equipment for drilling, cutting and other rock excavation tasks, as well as supporting services and infrastructure like digital monitoring and automation systems.<ref name="AR2023" /><ref name="IM-Sandvik-Barrick">{{Cite news
|title=Sandvik and Barrick strengthen ties with extended global framework agreement
|url=https://im-mining.com/2024/01/22/sandvik-and-barrick-strengthen-ties-with-extended-global-framework-agreement/
|first=Daniel
|last=Gleeson
|date=22 January 2022
|access-date=28 April 2024
|newspaper=International Mining
}}</ref>

Sandvik is notable for developing battery-powered, remotely monitored and automated equipment. The vehicle TH665B, with a capacity of 65 metric tons, was the highest-capacity battery-electric underground mining truck in the world when it was launched in 2022. Besides the advantage of not producing any diesel exhaust gases, battery-powered trucks emit less heat than diesel-powered trucks, which is beneficial in underground mines, and tend to achieve higher uphill top speeds. Sandvik has developed systems for swapping battery packs of mining trucks and loaders to freshly charged ones, instead of charging the batteries while attached to the vehicle. The minimum time required for battery swapping is a few minutes. [[Rio Tinto (corporation)|Rio Tinto]], [[LKAB]], [[Boliden AB|Boliden]], Torex Gold, Foran Mining, Rana Gruber and Byrnecut are examples of mining companies that have been reported to use battery-electric Sandvik trucks and loaders.<ref name="IM-Sandvik-Barrick" /><ref>{{Cite news
|title=Sandvik introduces largest-capacity battery-electric truck for underground mining
|url=https://www.miningweekly.com/article/sandvik-introduces-largest-capacity-battery-electric-truck-for-underground-mining-2022-03-03
|first=Darren
|last=Parker
|date=3 March 2022
|access-date=28 April 2024
|newspaper=Mining Weekly
}}</ref><ref>{{Cite news
|title=Sandvik's TH665B truck raises the bar for BEVs
|url=https://www.canadianminingjournal.com/featured-article/sandviks-th665b-truck-raises-the-bar-for-bevs/
|first=D'Arcy
|last=Jenish
|date=1 May 2022
|access-date=28 April 2024
|newspaper=Canadian Mining Journal
}}</ref><ref>{{Cite news
|title=Sandvik begins TH665B truck trials at AngloGold's Australian mine
|url=https://www.mining-technology.com/news/sandvik-th665b-trials-anglogolds/
|date=20 September 2023
|access-date=28 April 2024
|newspaper=Mining Technology
}}</ref><ref>{{Cite news
|title=Rio Tinto backs BEV use at Kennecott Underground with growing Sandvik fleet
|url=https://im-mining.com/2024/03/21/rio-tinto-backs-bev-use-at-kennecott-underground-with-growing-sandvik-fleet/
|first=Daniel
|last=Gleeson
|date=21 March 2024
|access-date=28 April 2024
|newspaper=International Mining
}}</ref>

As of 2024, Sandvik operates a working prototype of a fully automatic battery-powered autonomous drill rig in its test mine in Finland. The machine is capable of planning the drill procedure, optimizing its electric power usage, changing drill bits and automatically returning to a charging station when necessary. In addition to the potential for higher productivity, workplace safety is an area where this kind of technology may bring significant improvements.<ref>{{Cite news
|title=Amelia: the underground drilling conversation starter
|url=https://im-mining.com/2024/01/02/amelia-the-underground-drilling-conversation-starter/
|first=Daniel
|last=Gleeson
|date=2 January 2024
|access-date=28 April 2024
|newspaper=International Mining
}}</ref>

=== Rock processing solutions ===

The rock processing solutions{{buzzword-inline|date=April 2025}} business area produces mobile and stationary crushing and [[mechanical screening|screening]] equipment for rock and mineral processing as well as related tools and services.<ref name="AR2023" />

=== Manufacturing and machining solutions ===

The manufacturing and machining solutions{{buzzword-inline|date=April 2025}} business area produces tools, software and other equipment for metal cutting, [[additive manufacturing]] and [[metrology]]. [[Machining]] tools are sold under several brand names, for example [[Sandvik Coromant]] and [[Dormer Pramet]].<ref name="AR2023" />

In 2023, Sandvik used equipment and software for precision machining and metrology to produce an [[generative artificial intelligence|AI-designed]] statue simultaneously inspired by the styles of the artists [[Michelangelo]], [[Auguste Rodin]], [[Käthe Kollwitz]], [[Kōtarō Takamura]] and [[Augusta Savage]]. The statue is made of [[stainless steel]], weighs 500 kg, is 1.5 meters tall and is manufactured to a precision of 0.03 mm. It was exhibited at the [[Swedish National Museum of Science and Technology]].<ref>{{Cite news
|title=Swedish engineering firm unveils AI-designed 'Impossible Statue'
|url=https://buildindigital.com/swedish-engineering-firm-unveils-ai-designed-impossible-statue/
|first=Liam
|last=Turner
|date=11 May 2023
|access-date=28 April 2024
|newspaper=Build in Digital
}}</ref><ref>{{Cite news
|title=AI combined the styles of 5 of history's greatest artists to create this sculpture
|url=https://wired.me/technology/ai-5-greatest-artists-create-sculpture/
|first=Nadine
|last=Kahil
|date=1 June 2023
|access-date=28 April 2024
|newspaper=Wired Middle East
}}</ref><ref>{{Cite news
|title=The Impossible Statue – A beautiful fusion of science and art
|url=https://interestingengineering.com/innovation/the-impossible-statue-a-beautiful-fusion-of-science-and-art
|first=Atharva
|last=Gosavi
|date=27 February 2024
|access-date=28 April 2024
|newspaper=Interesting Engineering
}}</ref>

==See also==
* [[List of Swedish companies]]

==References==
{{Reflist}}

== Further reading ==
* https://www.home.sandvik/en/news-and-media/newslist/news/2012/02/book-release-the-sandvik-journey-the-first-150-years/

{{OMX Stockholm 30 companies}}
{{OMX Nordic 40}}
{{Tool manufacturers}}
{{Authority control}}

[[Category:Companies in the OMX Stockholm 30]]
[[Category:Companies in the OMX Nordic 40]]
[[Category:Manufacturing companies based in Stockholm]]
[[Category:Manufacturing companies established in 1862]]
[[Category:Tool manufacturing companies of Sweden]]
[[Category:Mining equipment companies]]
[[Category:Subterranean excavating equipment companies]]
[[Category:Swedish brands]]
[[Category:Swedish companies established in 1862]]
[[Category:Companies listed on Nasdaq Stockholm]]
[[Category:Multinational companies headquartered in Sweden]]
[[Category:Companies related to the Engwall family]]