Welcome to our dedicated page for SANDVIK AB S/ADR news (Ticker: SDVKY), a resource for investors and traders seeking the latest updates and insights on SANDVIK AB S/ADR stock.
Sandvik AB S/ADR (SDVKY) is a global high-tech engineering group known for offering cutting-edge tools, solutions, and services for a variety of industries, including mining, construction, and manufacturing.
The company recently made headlines by acquiring Almü and Ahno, two leading cutting tools and solutions providers, to strengthen its position in lightweight materials and expand its presence in China. Sandvik also secured significant orders for electric rotary drill rigs in Mongolia and underground mining equipment in India.
With a strong focus on innovation, sustainability, and customer satisfaction, Sandvik continues to lead the industry with its advanced engineering competence and tailor-made precision tool solutions.
On June 17, 2022, Sandvik acquired Akkurate, a Finnish company specializing in holistic battery management solutions. This strategic move aims to enhance Sandvik's capabilities in electrification and battery analytics, reinforcing its status as a leader in battery-electric vehicle technology. The acquisition aligns with Sandvik's growth strategy and commitment to improving safety, productivity, and sustainability in mining operations. With 12 experts in Li-ion technology, Akkurate bolsters Sandvik's existing offerings, paving the way for advancements in battery technology.
The President of Sandvik Mining and Rock Solutions, Henrik Ager, has left the company after eight years, including three as President. CEO Stefan Widing praised Ager's contributions during a successful period for the business unit. Widing will serve as the interim President while the search for Ager's replacement begins. This leadership change may impact the strategic direction of Sandvik's Mining and Rock Solutions segment.
Anders Svensson, President of Sandvik Rock Processing Solutions, will leave Sandvik to become the President and CEO of Konecranes, effective by November 2022. Svensson has been with Sandvik since 2008 and led Rock Processing Solutions since its formation in 2021. His leadership was acknowledged as beneficial during his tenure. A search for his successor will begin following his departure. This change may impact Sandvik's leadership stability as it transitions to new management.
Sandvik, based in Sweden, has successfully raised EUR 500 million in the corporate bond market under its Euro Medium Term Note (EMTN) program. The bonds, with a maturity date of June 7, 2027, have a re-offer yield of 2.26% and were oversubscribed by three times, attracting over 60 investors. The funds will be utilized for refinancing maturing loans and general corporate purposes. The bonds will be listed on the official list of the Luxembourg Stock Exchange.
On May 20, 2022, Sandvik announced its acquisition of Preziss, a Spanish provider of cutting tools and solutions in high-precision machining. This strategic move aims to enhance Sandvik's capabilities in lightweight components for the automotive sector, particularly in aluminum manufacturing. Preziss, founded in 1971, reported revenues of approximately 10 MEUR in 2021 and operates with a neutral EBITA margin relative to Sandvik's existing operations. The acquisition is expected to close in Q3 2022 and aims to bolster Sandvik's product and service offerings in the lightweight materials sector.
Alleima, a spin-off from Sandvik AB, invites investors and analysts to its inaugural Capital Markets Day on August 23, 2022, in Sandviken, Sweden. The event aims to present the strategic direction, product offerings, and financial goals of Alleima ahead of its expected Nasdaq Stockholm listing on August 31, 2022. Participants will have the option to attend in person or online, with presentations and Q&A sessions led by the management team. Registration is required for on-site attendance, while online access does not require prior registration.
Sandvik, based in Sweden, is implementing new structural measures to enhance competitiveness and efficiency. Announced on May 17, 2022, these initiatives include consolidating production units and optimizing the sales organization, primarily in Sandvik Machining Solutions. Expected annual savings are around 600 million SEK, with full realization by 2025. Restructuring costs are anticipated at SEK 1.7 billion, with a significant portion for employee redundancies. The CEO emphasized the need for agility and operational efficiency to support strategic growth.
On May 17, 2022, at Capital Markets Day in Stockholm, Sandvik's CEO Stefan Widing announced a strategic shift to growth, outlining new financial targets. The company aims for a 7% organic growth rate, an adjusted EBITA margin of 20-22%, and a financial net debt to EBITDA ratio of less than 1.5. Additionally, Sandvik plans to distribute and list its business area, Sandvik Materials Technology. The presentations will be available online, with recordings released by May 18, 2022.
On May 11, 2022, Sandvik announced its acquisition of Peterson Tool Company, a US-based supplier of custom tooling solutions primarily for the automotive and general engineering sectors. With 73 employees and 2021 revenues of 9 million USD, Peterson Tool will be integrated into Sandvik's GWS Tool business unit. This move aligns with Sandvik's growth strategy to enhance its North American market presence. The transaction will slightly positively impact Sandvik's earnings per share, with completion expected in the second or third quarter of 2022.
FAQ
What is the current stock price of SANDVIK AB S/ADR (SDVKY)?
What is the market cap of SANDVIK AB S/ADR (SDVKY)?
What industries does Sandvik AB operate in?
What recent acquisitions has Sandvik AB made?
What significant orders has Sandvik AB secured recently?
What are some core values of Sandvik AB?
