Sandvik signs EUR 500 million loan agreement with the European Investment Bank
Sandvik has signed a EUR 500 million loan agreement with the European Investment Bank (EIB). The loan will support Sandvik’s investments in research and development (R&D), which include advanced solutions in component manufacturing as well as solutions for electrification and automation in mining and infrastructure.
“We have a strong strategic focus on developing solutions that improve sustainability, productivity and safety in our core industries of mining, component manufacturing and infrastructure. The EIB cooperation will support our R&D initiatives and our aim to stay at the forefront and develop our technology leadership,“ says Stefan Widing, President and CEO of Sandvik.
The loan has a seven-year tenor and will support Sandvik’s R&D investment plans until 2025.
Stockholm, January 18, 2023
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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Sandvik Group
Sandvik is a global, high-tech engineering group providing solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. We are at the forefront of digitalization and focus on optimizing our customers’ processes. Our world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation and rock processing. In 2021 the Group had approximately 39,000 employees and revenues of about 86 billion SEK in about 150 countries within continuing operations.
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