Sandvik Forms New Business Area – Sandvik Mining and Rock Technology
March 16 2016 - 9:16AM
Business Wire
Regulatory News:
Sandvik (STO:SAND)
Sandvik will merge its operations Sandvik Mining and Sandvik
Construction into one business area – Sandvik Mining and Rock
Technology.
Sandvik Mining and Rock Technology operations will be organized
in a de-centralized business model with separate product areas
based on the product offering. Each product area will have full
responsibility and accountability for its respective business.
"Products developed for the customer segments mining and
construction are based on common technologies with a similar
aftermarket offering. In addition, manufacturing units are already
largely shared with to some extent shared front line resources. By
joining the operations into one business area we achieve a leaner
and more efficient structure. The decentralized business model
enables an even clearer focus and faster response to our
customers", says Bj�rn Rosengren, Sandvik´s President and CEO.
The new structure will be effective as from 1 July 2016 and Lars
Engstr�m, currently President of Sandvik Mining has been appointed
President of the new business area, Sandvik Mining and Rock
Technology. Dinggui Gao, President of Sandvik Construction will
leave the company as of 1 July 2016.
“I would like to take the opportunity to thank Dinggui Gao for
his dedicated work in supporting the merger of the new
organization. I would like to express my appreciation for his work
to drive Sandvik Construction, resulting in documented
improvements. I wish him all the best in his future career”, says
Bj�rn Rosengren.
Further details on the new structure will be included in the
presentations at the upcoming Sandvik Capital Markets Day on 24 May
2016.
2015 Sandvik Mining and Rock Technology, continuing
operations
Q1 Q2
Q3 Q4 FY 2015
Order intake 7 986 8 188 7 156 6 845 30 175 Invoicing
7 633 7 993 7 749 7 596 30 971 EBIT 120 1 011 947 534 2 612 EBIT %
1.6 12.6 12.2 7.0 8.4 EBIT, adjusted 905 1 011 947 813 3 676
EBIT %, adjusted 11.9 12.6 12.2 10.7 11.9
Stockholm, 16 March 2016
Sandvik AB
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Sandvik Group
Sandvik is a high-tech and global engineering group offering
advanced products and services that enhance customer productivity,
profitability and safety. We hold world-leading positions in
selected areas – tools for metal cutting, equipment and tools for
the mining and construction industries, stainless materials,
special alloys, metallic and ceramic resistance materials as well
as process systems. In 2015, the Group had about 46,000 employees
and sales of about 91 billion SEK in more than 150 countries.
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Sandvik ABAnn-Sofie NordhVice President Investor Relationstel:
+46 8 456 14 94orAnna VilogoracInvestor Relationstel: +46 8 456 11
94orPär AltanVice President External Communicationstel. +46
70 616 20 24.
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