United States

Sandvik AB (SAND.ST)

SAND.ST on Stockholm Stock Exchange

11:29am EDT
Change (% chg)

-0.70kr (-0.54%)
Prev Close
Day's High
Day's Low
Avg. Vol
52-wk High
52-wk Low

Latest Key Developments (Source: Significant Developments)

Sandvik CEO says U.S. market most challenging
Monday, 18 Jul 2016 08:12am EDT 

Sandvik CEO Bjorn Rosengren in conference call: Sandvik CEO says not seeing any change in overall investment climate from recent recovery in oil prices . Sandvik CEO says U.S. market remains the most challenging one, more stable in Europe, Asia . Sandvik CEO says recapitalising Mining Systems as part of sale . Sandvik CEO says inserts demand early in Q3 has continued as in Q2 Further company coverage: [SAND.ST] (Reporting by Johannes Hellstrom) ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;)).  Full Article

Sandvik divests Mining Systems unit to private equity firm CoBe
Monday, 18 Jul 2016 07:32am EDT 

Sandvik AB : Says to divest its mining systems operations, reported in Sandvik income statement as discontinued operations, to private equity company CoBe capital . Says closing of transaction is expected during Q4 of 2016 . Says parties have agreed not to disclose purchase price . Says transaction entails a capital loss of -800 million SEK impacting result of Sandvik's discontinued operations for Q3 of 2016 . Says capital loss includes a negative cash flow impact of -600 million SEK, primarily in conjunction with closing of deal . Says Sandvik will maintain ownership of ongoing projects which are close to finalization . "Divesting the Mining Systems is an important step in consolidating Sandvik to its core operations, which for Sandvik Mining and Rock Technology is high technology mining equipment and aftermarket offerings," Sandvik CEO Bjorn Rosengren said in a statement Further company coverage: [SAND.ST] (Reporting by Oskar von Bahr) ((Oskar.vonBahr@thomsonreuters.com;)).  Full Article

Sandvik Q2 operating profit tops forecast
Monday, 18 Jul 2016 07:30am EDT 

Sandvik Ab : Sandvik AB Q2 revenues (continuing operations) SEK 20,321 mln vs year-ago 22,200 mln . Q2 order intake (continuing operations) SEK 19,869 mln vs year-ago 21,766 mln . Q2 operating profit (continuing operations) SEK 2,705 mln vs year-ago 2,977 mln . Reuters poll: Sandvik Q2 order intake was seen at SEK 20.0 bln, operating profit at 2.55 bln, revenues at 20.2 bln . Says customers’ order activity was generally cautious in the second quarter, . Says somewhat higher activity among nuclear customers was noted . Says underlying customer activity in the mining segment remained largely stable overall, with order intake for equipment declining slightly on tough comparables . Says mining order intake for the aftermarket remained unchanged .Says order cancellations of about SEK 90 million were received in SMT due to customers re-prioritizing amongst ongoing projects, as well as geo-political reasons.  Full Article

Sandvik says plans to exit Sandvik Process Systems, Sandvik Hyperion
Tuesday, 3 May 2016 08:00am EDT 

Sandvik AB:Sandvik consolidates to three business areas and identifies non strategic operations.Reorganises its operations in business area Sandvik Venture.This includes moving wolfram and two selected production sites from Sandvik Hyperion into Sandvik Machining Solutions.Also includes moving Sandvik Drilling and Completions (Varel) into Sandvik Mining and Rock Technology.Sandvik Process Systems and Sandvik Hyperion, excluding the two sites to be merged into Sandvik Machining Solutions, are identified as non-strategic operations and will remain in Sandvik Venture, now to be labeled other operations.Over time, Sandvik has the ambition to exit from these businesses, although the process is yet to be initiated.  Full Article

Sandvik AB merges mining and construction divisions
Wednesday, 16 Mar 2016 09:00am EDT 

Sandvik AB:Will merge operations Sandvik Mining and Sandvik Construction into one business area - Sandvik Mining and Rock Technology.The new structure will be effective as from 1 July.Lars Engström, 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.  Full Article

Sandvik AB appoints new Chief Financial Officer
Friday, 22 Jan 2016 02:00am EST 

Sandvik AB:Says Tomas Eliasson has been appointed Executive Vice President and CFO of Sandvik and member of the Group Executive Management, effective no later than July 2016.Says Tomas Eliasson will succeed Mats Backman, who, as announced 25 November 2015, will join Autoliv.  Full Article

Sandvik implements final phase of supply chain optimization program
Thursday, 10 Dec 2015 02:00am EST 

Sandvik AB:Implements final phase of the supply chain optimization program and makes further right-sizing as well as impairments.Says ‍has identified additional structural efficiency measures which will generate annual savings of about 600 million Swedish crowns.Says ‍results for q4 of 2015 will be impacted by non-recurring charges totaling 1,550 million crowns, out of which 552 million crowns impact cash flow.Targeted savings for the total supply chain optimization program are 1.3 billion crowns for continuing operations.Impairment losses are primarily related to weaker than expected performance in parts of Sandvik's operations in China.Says sees impairments as part of Q4 non-recurring items 975 mln crowns.  Full Article

Sandvik AB CFO Backman leaves for Autoliv
Wednesday, 25 Nov 2015 02:45am EST 

Sandvik AB:Mats Backman, executive vice president and Chief Financial Officer, CFO, for Sandvik has decided to leave Sandvik to assume equivalent position as CFO for automotive safety supplier Autoliv.  Full Article

Sandvik AB intends to divest mining systems operations
Thursday, 1 Oct 2015 07:36am EDT 

Sandvik AB:Decided to initiate divestment of the project business Mining Systems.  Full Article

Sandvik to close plant in Koping, cut 145 jobs
Thursday, 17 Sep 2015 09:50am EDT 

Sandvik AB:Will close its plant in the Swedish town of Koping and cut 145 jobs.Production will be moved to plants in Sandviken and in India.Company, one of the world's top makers of mining equipment and metal-cutting tools, is in the midst of a restructuring programme to be completed by the end of 2016, set to deliver annual savings of 1.1 billion Swedish crowns.  Full Article

BRIEF-Sandvik reports Q2 2017 interim report

* Sandvik: interim report second quarter 2017 Source text for Eikon: Further company coverage: