Sandvik AB, based in Stockholm, Sweden, has commemorated its 160th anniversary since Göran Fredrik Göransson started the company in 1862 under the name Högbo Stl & Jernwerks AB. Göransson is credited with being the first person to successfully apply the Bessemer technology to the manufacturing of steel on a large scale.
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Drill steel for rock drilling was part of the company’s product line as early as the 1860s. In 1901, the firm was listed on the Stockholm Stock Exchange. Stainless steel was first manufactured in 1921, followed by cemented carbide in 1942. In the 1950s, Gimo, Sweden, began producing cemented-carbide tools.
In 1972, the company name was changed to Sandvik AB, and in 1984, a new style of organization with a parent company and independent business divisions was adopted.
The Sandvik Group has continued to enhance its capabilities, which now include new technology. Its expansion has included a number of firm acquisitions throughout the years, in addition to organic development.
The Sandvik Group is currently focused on key sectors such as industrial metal cutting tools and tooling systems, mining and construction equipment and tools, service and technical solutions, and advanced stainless steels and special alloys, as well as industrial heating products.
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