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Sandvik Receives Order For Energy Industry
ABB Names Björn Rosengren As CEO
Sandvik Says Björn Rosengren, President And CEO, To Leave Co
Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations. It operates in the areas of Mining, which includes delivering drill rigs; Engineering, which includes tools and tooling systems; Energy, which offers solutions for energy production; Automotive, which includes cemented-carbide tools and tooling systems; Construction, which provides solutions for the construction industry, and Aerospace, which works with aerospace companies. Its various product categories include metal-cutting tools and tooling systems; mining equipment and tools; construction equipment and tools; stainless steels, special alloys and titanium; furnace products and heating systems, and industrial processing systems.
Misc. Capital Goods
Kungsbron 1, Section 6, plan G
Independent Chairman of the Board
President, Chief Executive Officer, Director
Chief Financial Officer, Executive Vice President
Executive Vice President, General Counsel, Secretary to the Board
Executive Vice President, Head of Human Resources
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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.
Swedish engineering group Sandvik <SAND.ST> reported quarterly operating earnings below market expectations on Wednesday and said it would cut around 2,000 jobs to buttress profitability in the face of early signs of slowing market demand.
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.
Sweden's Sandvik said on Tuesday order intake had improved significantly and broadly with stable activity also seen in an automotive industry hit by recent wobbles as it posted quarterly core earnings just ahead of forecast.
Swedish engineering firm Sandvik reported quarterly core earnings marginally ahead of market expectations on Tuesday and said order intake had improved significantly across all business areas.
Swedish Sandvik <SAND.ST>, which makes metal-cutting tools and mining gear, reported record-high quarterly earnings and orders on Tuesday on the back of a broad rise in demand, with its mining unit a particular stand-out.
Sweden's Sandvik, the world's biggest maker of metal cutting tools, has agreed to buy measurement technology company Metrologic Group for 360 million euros (316.18 million pounds) to strengthen its position in digital manufacturing.
Swedish engineering group Sandvik <SAND.ST> beat first-quarter operating earnings expectations on Tuesday boosted by strong results in its metal-cutting tools business, the group's main profit generator.
Swedish metal-cutting tools and mining gear maker Sandvik beat first-quarter operating expectations on Tuesday and reported a broad-based increase in customer activity at the start of the year.
Buyout firm KKR & Co LP <KKR.N> said on Friday it had agreed to buy industrial tool components manufacturer Hyperion from Sweden's Sandvik <SAND.ST>, its first acquisition of a relatively small manufacturing company.
KKR & Co LP has agreed to buy industrial tool components manufacturer Hyperion from Sandvik, a deal the U.S. buyout firm said marked its first acquisition in the mid-market industrials sector.
* SAYS SANDVIK HAS SIGNED AN AGREEMENT TO DIVEST HYPERION TO US LISTED INVESTMENT FIRM KKR AT A PRICE OF SEK 4 BILLION ($472.19 MILLION)
Engineering group Sandvik said on Tuesday it first needed to restore profitability in its specialty steels unit (SMT) before deciding on the future of the business that has long been speculated to be headed for a listing or a sale.
Buyout firms Nordic Capital and KKR & Co <KKR.N> are competing to acquire Hyperion, a U.S. manufacturer of metal cutting and drilling equipment owned by Swedish engineering company Sandvik AB <SAND.ST>, according to people familiar with the matter.
* Sandvik: interim report second quarter 2017 Source text for Eikon: Further company coverage:
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