Gary Hughes has contributed substantially to our mining operations during difficult times, providing Scot Smith with an excellent platform to develop our business even further. Scot Smith will strengthen the Sandvik Mining management team, while Gary Hughes will make a great contribution to the team in his new role focusing on sales and marketing.
Mats Backman has extensive experience from relevant industries and companies. With this strong background and experience base, he is a highly suitable person to continue the work to take our finance function forward. He will also take a leading role in driving the further progress of the Sandvik Group in general.
Sandvik is undertaking a number of strategic development projects.This demands a strong communication organization but also that we meet the needs of fast and flexible support with experience and competence in different projects. I am convinced that Jessica and Jan, with the experience and competence they both possess, are well suited for their new roles.
The nuclear power industry is a key segment for Sandvik, and we will retain our strong position despite this capacity adjustment. Mothballing the older mill minimizes costs, but it also gives us the option to restart production when the market is ready
I look forward to Dinggui Gao joining us at Sandvik. His experience and background are valuable for us, particularly his background within international business environments which are of great significance for Sandvik, being a corporation with a strong global position.
The work is pioneering within the industry and it is impressive that, 30 years after the first market launch of oxide-coated inserts, it has been possible to make such a vast improvement to these products.
We need to be flexible and scalable to position ourselves for future growth. We are pleased to announce that Sandvik has signed a 5-year contract with Capgemini to handle the transactional finance rule-based and repeatable processes which will enable us instead to focus on crucial business support.
The size and complexity of the systems and the impressive performance data again demonstrate Sandvik Mining's capability to provide high-tech solutions in the area of continuous mining and materials handling applications
We already have a strong cooperation with CUBEX and since 2009 Sandvik serves as global distributor responsible for sales and service of CUBEX products worldwide. The acquisition is in line with Sandvik’s long-term strategy of continued profitable growth and to deliver increased customer value. CUBEX's knowledge of the ITH drilling method complements Sandvik’s already extensive offering in underground drilling.
Jonas Gustavsson and Petra Einarsson have a track record of improved profitability from Sandvik Materials Technology. Petra Einarsson will leverage the positive momentum generated at the business area. I wish Andreas Evertz the best of luck in his future career. Sandvik Machining Solutions has developed a solid and successful strategy under his leadership. Jonas Gustavsson, with his proven background as a successful leader, will focus on further developing Sandvik Machining Solutions and capitalizing on its growth potential.
I want to express my sincere gratitude for Thomas Schulz’s contributions to Sandvik and wish him the best of luck in his new position.
A year has soon passed since we began the implementation of the new strategy. A great deal of hard work has been done and much has been achieved. In our drive to continuously improve our company, we have identified several additional opportunities. Consequently, decisions have been taken on a number of actions to adjust costs and capacity. None of these measures affect our ability to grow our business in the long term.
This loan extends and evens our debt maturity profile at the same time as it contributes to a further diversification of funding sources, in line with Sandvik’s funding strategy,
With his extensive expertise and proven ability to successfully pursue change projects and structural issues, Tomas Nordahl has the right profile to lead Sandvik Venture. In a research intensive company like Sandvik I believe that it is important to have a person with a solid background within research in the executive management. Olle Wijk is an excellent choice to lead Sandvik’s strategic research and development.
I would also like to take this opportunity to express my deepest gratitude to Anders Thelin, who over a period of 35 years has used his strong and committed leadership skills as the President of various business areas and as a member of Group Executive Management to make a very tangible contribution to Sandvik’s successes.
The size and complexity of this system and the fact that Sandvik provides a complete integrated system of Sandvik mining equipment on a complete turn-key solution basis demonstrates Sandvik Mining's capability to deliver wide-ranging hightech solutions in the area of continuous mining and materials handling systems for surface mining applications.
Pär will, with his competence and broad experience contribute to further strengthen Sandviks’ external communication, not the least in media contacts.
I would like to thank Ola for his contribution to developing the financial processes within the Sandvik Group and wish him all the best going forward. Finally, I also want to welcome Emil to this position as CFO at Sandvik.
This new contract confirms Sandvik’s strong customer offering and again demonstrates our capabilities of providing excellent technical solutions based on our vast competence in the area of continuous mining and materials handling applications.
The importance, size and complexity of the systems and the impressive performance data demonstrate Sandvik Mining's capability to provide high-tech solutions in the area of continuous mining and materials handling systems for surface mining applications.
Sandvik already has 26 units of bolter miners in operation in Shenua Shendong’s sites, and another three units are currently in the process of being delivered. By 2013, the Sandvik bolter miner fleet in Shendong will comprise a total of 50 units. This demonstrates Sandvik´s capability to provide productive solutions to the coal industry in line with Sandvik Mining’s long term strategy.
The divestment of Sandvik Medical Solutions is in line with our strategy to exit operations outside of the defined core businesses. There is a strong industrial logic in combining Orchid and Sandvik Medical Solutions and we are convinced that Sandvik Medical Solutions will have a positive development with its new owners.
We expected to issue 300 MSEK but the great interest shown forced us to close the offer after only 3 days. There seems to be a great interest to invest in stable companies with strong financials. With the assistance of Handelsbanken, we have achieved financing at market conditions and also been able to offer the investors good terms.
I am pleased that we have been able to secure liquidity in this manner for the years ahead while also confirming the banks included in our core relationship bank group.