Sandvik AB

Sandvik <SAND.ST>, the world's biggest maker of metal-cutting tools, on Thursday dented hopes for a quick pick-up in industrial demand, expecting continued weakness in areas such as cars, aerospace and energy.

Sweden's Sandvik <SAND.ST>, the world's biggest maker of metal-cutting tools, said on Monday it was ready to cut more costs if needed to weather the COVID-19 pandemic as it reported quarterly order intake ahead of market forecasts.

Sweden's Sandvik, the world's biggest maker of metal-cutting tools, on Monday reported quarterly order intake ahead of market forecasts while its core profit slightly lagged analysts' expectations.

The board of metal-cutting tools and mining gear maker Sandvik's said on Tuesday it would withdraw its dividend proposal for 2019 and instead proposed no pay out given the current uncertainty around the spread of the new coronavirus.

* Cuts proposed 2019 dividend to 3 SEK/share from 4.50 (Adds background detail)

Swedish mining gear and metal-cutting tools maker Sandvik on Thursday launched large cost-cutting measures in response to the rapid global spread of the coronavirus and said it would reduce its proposed dividend for 2019.

Metal-cutting tools and mining gear maker Sandvik <SAND.ST> reported fourth-quarter core earnings above market forecasts on Tuesday but said a slump in the automotive and general engineering industries had dented order intake.

Metal-cutting tools maker Sandvik <SAND.ST> has agreed to sell 70% of its drilling and completions business for 900 million crowns ($92.8 mln) in line with its strategy to focus on core operations.

Swedish metal-cutting tools firm Sandvik said on Monday it had agreed to sell a 70% stake in its Drilling and Completions business in line with a strategy to focus on its core business.

Swedish metal-cutting tools and mining gear maker Sandvik has named Assa Abloy's Stefan Widing to take over as CEO when Bjorn Rosengren leaves for Swiss robotics company ABB.

Swedish metal-cutting tools and mining gear meaker Sandvik said on Friday it had appointed Assa Abloy's Stefan Widing as its new CEO, replacing Bjorn Rosengren who as previously announced is leaving for the top job at Swiss robotics firm ABB.

Metal-cutting tools and mining gear maker Sandvik <SAND.ST> reported third-quarter core earnings above market forecasts on Friday as strong demand in the mining and oil industries helped offset slumping automotive and engineering markets.

ABB <ABBN.S> shares jumped more than 4% on Monday as investors welcomed news the Swiss engineering group had poached Bjorn Rosengren from Swedish mining equipment firm Sandvik <SAND.ST> to be its next chief executive.

ABB Chairman Peter Voser said he was convinced he had got the right man to transform the Swiss engineering group after it announced Sandvik boss Bjorn Rosengren would become its next chief executive.

Swedish engineering group Sandvik's <SAND.ST> Chief Executive Officer Bjorn Rosengren will step down next year and will join Swiss-Swedish robotics and engineering group ABB Ltd <ABBN.S> as CEO, the companies said in separate statements on Sunday.

Metal-cutting tools and mining gear maker Sandvik announced new long-term financial goals on Wednesday, after a structural overhaul it said will give it room to buy more companies.

Swedish engineering group Sandvik reported a better than forecast quarterly order intake on Thursday and said demand remained strong across all its business areas, sending an upbeat signal for the Nordic industrial sector.

Swedish mining equipment maker Epiroc reported quarterly order intake and underlying profitability slightly below analyst forecasts on Tuesday and said it expected near-term demand to remain at the current level.

Swedish metal-cutting tools and mining gear maker Sandvik on Wednesday reported fourth-quarter earnings and order intake just above analyst forecasts and said underlying customer activity had been stable in all customer segments except for a drop in automotive.