The Hindu Business Line : Sandvik Asia registers 30 pc growth over 3 years

Sandvik Asia Ltd, a wholly owned subsidiary of the $8-billion Swedish company Sandvik AB, has announced that invoicing of the Indian operations has crossed Rs 1,000 crore.

Sandvik has registered an average growth exceeding 30 per cent over the last three years.

Commenting on the performance, Mr Hakan Kingstedt, Managing Director and President, Sandvik Asia Ltd, said the booming Indian economy and growth of key customer segments such as petrochemical, automotive, engineering, construction, mining, aerospace, oil and gas processing, materials handling etc have been instrumental for the Indian performance.

Sandvik also recently established the Sandvik Global Supply Office in Pune. It may be recalled that Sandvik has invested Rs 160 crore in India during the current year. These investments have been spread across all business areas - manufacturing of metal cutting tools and rock tools, recycling plants, crushing and screening and stainless tubes.

Sandvik Asia commenced operations at Pune in 1960.. Its business areas are, materials technology, tooling and mining and construction. It currently has more than 1,400 employees in India and the operations include tube plants, units for manufacturing cemented-carbide and high-speed steel tools, production units for crushers, rock drill tools, and high-temperature materials and recycling plants in the cemented-carbide area.

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