Sandvik eyes India as specialised centre of excellence by 2016

By admin June 17, 2013 11:49 am IST

Sandvik AB is a high-technology, engineering group with advanced products in 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. Sandvik’s operations are based on unique expertise in materials technology and extensive insight into customer processes. According to Olof Faxander, President and CEO, Sandvik AB, “Sandvik’s overall focus is to provide added values to ensure the customers’ enhanced productivity, higher competitiveness and increased profitability.”
Global presenceSandvik is a global industrial group, representing in more than 130 countries. The Swedish company has its biggest market share in Europe (34 per cent), although the growth in Europe is falling sharply. Its biggest growth rate comes from Latin America (16 per cent). In Asia, Sandvik has a market share of 18 percent with the growth rate of 7 per cent. According to Q1 2013 report, global demand for Sandvik’s products displayed a mixed trend during the first quarter where order intake increased by 9 per cent compared with the preceding quarter at fixed exchange rates.
Performance by core sectorSandvik continues to successfully add new products to its portfolio in the core sectors of oil and gas, mining, machining solutions, materials technology, power, and construction. Some segments showed signs of an improvement in demand, most notably oil and gas sector and construction, while the mining industry weakened further. However, the demand in Asia has improved in the general engineering, construction and automotive segments.India as centre of excellenceThe Swedish company has anchored on Indian shore more than 50 years back. India is becoming an important global source for components, assemblies, materials, spares and consumables, etc. Today, India is Sandvik’s global base in manufacturing, sourcing, design and engineering, research and development, and training and competence.
Sandvik has decided its India growth strategy to increase market penetration and market share in India. In a recent press interaction in Pune, the company announced acquisition of new land of 50 acres for Sandvik Asia Pvt. Ltd. and projects significant investments including R&D by 2016.

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