Stockholm:SAND

Sandvik to acquire majority stake in China-based Suzhou Ahno

Retrieved on: 
Tuesday, April 23, 2024
Acquisition, CNY, Growth, Retail

STOCKHOLM, April 23, 2024 /PRNewswire/ -- Sandvik has signed an agreement to acquire a majority stake in the leading China-based company Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. (Ahno) from the current majority owner, Ningbo Baosi Energy Equipment Co., Ltd and related parties.

Key Points: 
  • STOCKHOLM, April 23, 2024 /PRNewswire/ -- Sandvik has signed an agreement to acquire a majority stake in the leading China-based company Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. (Ahno) from the current majority owner, Ningbo Baosi Energy Equipment Co., Ltd and related parties.
  • Ahno will form the basis of a new China-based division within Sandvik Machining Solutions.
  • In addition, Ahno enhances our local production capabilities, making it a great addition to Sandvik," says Nadine Crauwels, President Sandvik Machining Solutions.
  • Following the transaction, Sandvik will own a 72.4% stake in Ahno.

Invitation: Presentation of Sandvik's report of the first quarter 2024

Retrieved on: 
Thursday, March 28, 2024
Sandvik, CFO

STOCKHOLM, March 28, 2024 /PRNewswire/ -- Sandvik will publish its first quarter results on Monday, April 22, 2024, at approximately 11:30 AM CEST.

Key Points: 
  • STOCKHOLM, March 28, 2024 /PRNewswire/ -- Sandvik will publish its first quarter results on Monday, April 22, 2024, at approximately 11:30 AM CEST.
  • A combined webcast and conference call for investors, analysts and financial media will be held at 1:00 PM CEST.
  • The report will be presented by Stefan Widing, President and CEO as well as by Cecilia Felton, CFO.
  • Dial-in details for the conference call:
    For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 707 826 374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 707 211 008.

Annual General Meeting of Sandvik Aktiebolag

Retrieved on: 
Wednesday, March 20, 2024
Malpractice, EPS, Marketing, Remuneration, Audit committee, Annual, Employment, Committee, Malus, Annual general meeting, Kungsbron, Earnings per share, Report, Person, PwC, Social Security, Acquisition, Meeting, Annual report, International business, Auditor, Participation, Growth, LTI, G4, Mass meeting, Management

The Nomination Committee proposes, pursuant to the recommendation of the Audit Committee, re-election of PricewaterhouseCoopers AB as Auditor for the period until the end of the 2025 Annual General Meeting.

Key Points: 
  • The Nomination Committee proposes, pursuant to the recommendation of the Audit Committee, re-election of PricewaterhouseCoopers AB as Auditor for the period until the end of the 2025 Annual General Meeting.
  • The Board of Directors proposes that the Annual General Meeting resolve to adopt the following guidelines for the remuneration of senior executives.
  • The Board of Directors proposes that the Annual General Meeting authorizes the Board of Directors to, for the period until the 2025 Annual General Meeting, resolve on acquisitions of the Company's own shares in accordance with the following conditions.
  • The authorization may be utilized on one or several occasions up to the 2025 Annual General Meeting.

Sandvik AB Annual Report 2023

Retrieved on: 
Wednesday, March 13, 2024
Sandvik, Annual report, The Annual Report

STOCKHOLM, March 13, 2024 /PRNewswire/ -- The Sandvik AB Annual Report 2023 is from today available at our website: https://www.annualreport.sandvik/en/2023

Key Points: 
  • STOCKHOLM, March 13, 2024 /PRNewswire/ -- The Sandvik AB Annual Report 2023 is from today available at our website: https://www.annualreport.sandvik/en/2023
    The Annual Report has been printed in a limited edition and will be distributed to shareholders that have ordered the report.
  • The Annual Report is available, and can be ordered, at https://www.home.sandvik/annualreports .
  • This information is information that Sandvik AB is obliged to make public pursuant to the Securities Market Act.
  • For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008

Sandvik completes the acquisition of CAM reseller Cimquest

Retrieved on: 
Monday, March 4, 2024
Acquisition, MUSD, CAM, Mastercam, Sandvik, Computer-aided manufacturing, Computer-aided

STOCKHOLM, March 4, 2024 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Cimquest, a US based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network.

Key Points: 
  • STOCKHOLM, March 4, 2024 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Cimquest, a US based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network.
  • Cimquest will be a part of business unit Mastercam and will be reported within business area Sandvik Manufacturing and Machining Solutions.
  • Cimquest, founded in 1990, is headquartered in Branchburg, New Jersey, and has 55 employees.
  • *A limited part of Cimquest revenues in 2023 were to Sandvik-owned Mastercam and will not impact Group total external revenues.

Sandvik wins major mining automation order from Codelco

Retrieved on: 
Friday, March 1, 2024
Safety, Automation, El Teniente, Sandvik, Mining, Partnership

STOCKHOLM, March 1, 2024 /PRNewswire/ -- Sandvik has received a major order from Codelco, the world's largest copper producer, to supply a AutoMine® load and haul automation system, for use in the new Andesita project at the El Teniente mine in Chile.

Key Points: 
  • STOCKHOLM, March 1, 2024 /PRNewswire/ -- Sandvik has received a major order from Codelco, the world's largest copper producer, to supply a AutoMine® load and haul automation system, for use in the new Andesita project at the El Teniente mine in Chile.
  • The order is valued at approximately SEK 300 million and was booked in the first quarter 2024.
  • Under the new contract, which follows multiple automation solutions orders from Codelco in 2023, Sandvik will implement an advanced automation system and deliver a new automated Toro™ LH621i loader during 2024.
  • "We are very pleased to expand our partnership with Codelco and look forward to provide our leading mining automation solutions to the new Andesita project, enhancing safety, efficiency and productivity in the operations," says Mats Eriksson, President of Sandvik Mining and Rock Solutions.

Sandvik to acquire CAM reseller Cimquest

Retrieved on: 
Monday, February 26, 2024
Acquisition, MUSD, Polymer, CAD, Computer-aided manufacturing, Computer-aided

STOCKHOLM, Feb. 26, 2024 /PRNewswire/ -- Sandvik has signed an agreement to acquire Cimquest, a US based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network.

Key Points: 
  • STOCKHOLM, Feb. 26, 2024 /PRNewswire/ -- Sandvik has signed an agreement to acquire Cimquest, a US based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network.
  • With the acquisition, Sandvik strengthens its position in the CAM market and further builds on its capabilities to serve customers and expand the customer base.
  • Cimquest will be a part of business unit Mastercam and will be reported within business area Sandvik Manufacturing and Machining Solutions.
  • Cimquest has since 1990 been a reseller of Mastercam, a global leading provider of CAD/CAM software solutions for manufacturing industries, owned by Sandvik.

Sandvik completes the acquisition of pro-micron GmbH

Retrieved on: 
Friday, February 2, 2024
Acquisition, Sandvik, Gesellschaft mit beschränkter Haftung

STOCKHOLM, Feb. 2, 2024 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of pro-micron GmbH, a German-based supplier of sensorised tools and automation software.

Key Points: 
  • STOCKHOLM, Feb. 2, 2024 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of pro-micron GmbH, a German-based supplier of sensorised tools and automation software.
  • The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.
  • Pro-micron, founded in 2002 has around 56 employees and is headquartered in Kaufbeuren, Bavaria, Germany.
  • The impact on Sandvik's EBITA margin and earnings per share will be limited.

Sandvik implements restructuring program to continue to strengthen operational efficiency

Retrieved on: 
Thursday, January 25, 2024
Renewable energy

STOCKHOLM, Jan. 25, 2024 /PRNewswire/ -- Sandvik is continuously looking at ways to strengthen operational efficiency and resilience and have now decided to implement a new program of restructuring measures, supporting the strategy and the financial targets of the Group.

Key Points: 
  • STOCKHOLM, Jan. 25, 2024 /PRNewswire/ -- Sandvik is continuously looking at ways to strengthen operational efficiency and resilience and have now decided to implement a new program of restructuring measures, supporting the strategy and the financial targets of the Group.
  • The new measures include consolidation of productions units and optimizing the structure of the organization.
  • The program will generate annual savings of about SEK 1.2 billion.
  • "We are always reviewing options to improve our operational efficiency and enhance the resilience of the company.

Sandvik AB - Nomination Committee's proposal for Board of Directors for the 2024 Annual General Meeting

Retrieved on: 
Wednesday, January 24, 2024
International business, Annual, Committee, Marketing, Management

Johan Molin is proposed to be re-elected Chairman of the Board.

Key Points: 
  • Johan Molin is proposed to be re-elected Chairman of the Board.
  • Her solid experience of responsibility for sales and marketing, strategy, acquisitions and digital development is expected to strengthen and complement the existing competence in Sandvik's Board.
  • The Nomination Committee's other proposals will be made public in the notice convening the Annual General Meeting of Sandvik AB.
  • The Meeting will be held on April 29, 2024 in Sandviken, Sweden.