Sandvik
| Sandvik | |
|---|---|
 | |
| Industry | Electronics & Information Technology |
| Founded | 1862 |
| Headquarters | Stockholm, Sweden |
| Area Served | Worldwide |
| CEO | Olof Faxander |
| Chairman | Anders Nyren |
| Products | Tooling systems for metal cutting, mining and construction equipment and tools, stainless steel and special alloy products |
| Market Value | 87b$ |
| Employees | 47,338 (2013) |
| Website | www.sandvik.com |
Contents
About Sandvik[edit]
The company was established in 1862. Its main offices are located in Stockholm, Sweden. The Chairman is Anders Nyren and the CEO/Director - Olof Faxander. The company operates a huge scale employing 47,000 people worldwide and has around 8,000 active patents. They are active in the field of materials technology, in a concrete tooling system for metal cutting, mine construction equipment, products in advanced stainless steels and others. In all, the company can be summarized in five main areas. These are mining,construction, materials technology, machining solutions and ventura. The first sector deals with production of tools and technologies in the mining industry with its main offices are located in Amsterdam, Holland. Sandvik Mining and Construction was founded in 1998 and to this day continues to grow and evolve. Workers in this sector numbered in 2013 around 13,000 people. Sandvik Construction deals mainly with rock tools, drilling rigs, breakers, bulk-materials handling and crushing and screening machinery. About 19,000 employees work in this sector. Sandvik Materials Technology develops and manufactures stainless steels, special alloys, titanium and metallic and ceramic resistance materials. There are 7,100 workers in the sector. Sandvik Ventura comprises product areas Sandvik Hyperion, Wolfram and Sandvik Process Systems. Sandvik Machining Solutions is a global manufacturer specializing in the production of tools for advanced industrial metal cutting with 3,100 employees working in the sector.
In 2010 the company was awarded with APDIC Industrial Award. Susanne Norgren from Sandvik Mining and Construction was representing the company on the ceremony.
Engagement in Cultural Diplomacy[edit]
Sandvik gives great importance to its international relations with both employees and customers, such as with partners and investors. On their official website the company has set a huge Quantity data reports, which take account of the specific situation of the company based on investment plans in various years. On the 13th of May 2014 Sandvik held an event called Sandvik AB - General Meeting - in Sandviken, Sweden, which discussed potential collaborations on an international basis. Another interesting event in this direction is the Capital Markets Day 2014 in New Jersey, USA. In 2010 the Council decided to develop a program in which employees could participate from all sectors of the company. The program lasted three years and served to take into account actual performance of employees, which could lead to a real increase in wages. In this way there could be a direct correlation between work done, results and real wage. Capital Markets Day Sandvik is another event that focuses on the development and prosperity of the company.The main focus of the Capital Markets Day Sandvik, which was held in the US on Monday, November the 17th, was to provide an update on the strategic actions of the company to achieve higher results, reduce income volatility and to attract more areas of growth.
Employment policy[edit]
The company considers as very important the treatment of their staff and encourages them to develop their skills and to contribute to the prosperity of the business. In this regard, Sandvik has based its policy on a few basic rules of governance. The main ones are: fair play, innovation, focus on the customer and a competitive spirit. If employees observe these basic rules, they will become a part of the big family of the company and will enjoy good cooperation and many career opportunities.
Cultural Exchange Programs[edit]
The company considers it vital to exchange experiences with people from different countries, whether they are investors, customers or employees. They value the different perspectives and seek a discussion to reach the best solution. In this regard, Sandvik is working on many programs designed to attract and train young foreign talents. The company cooperates with India, in particular with its Indian Nobel quiz winners. Each year, the Embassy of Sweden in India holds a Sweden-India Nobel Memorial Week. The idea of this collaboration is to strengthen relations with the country.
Education[edit]
The company invests a lot of time and money in training their employees. They organize various programs that support the specialization of young people. An example for such a program is the online course in cutting metal. After completing this online training, the employee receives a license to do that specific activity.
International Internship Program[edit]
The company is working seriously towards encouraging international students to develop their talents. In this connection, they have established a special global trainee program for students from countries around the world. Young people from India, China, USA and Africa can apply for this program. It continues for 18 months and offers young talents training in a dynamic working environment, participation in interesting and challenging projects and gaining experience.
Cooperation with universities[edit]
One of the many projects in which the company works is the establishment of an independent school with cooperation with Sandviken Municipality with technical profile in Sweden. The idea of this school is to increase the interest of children to technical sciences and engineering.
Notable activities[edit]
The company is oriented toward social responsibility. Their business concept is based on innovation, leadership in technology and long-term relationships with clients. In order to keep their concept, they work hard in several directions. Here are some examples: orientation towards growth and prosperity, flexibility, work on international level, working staff of the highest level.
Promoting Human- and Civil Rights[edit]
The company understands that it's success is based on responsible attitude towards people and citizens. So they build their policy on clear terms for human working conditions and support individuals in their personal and professional growth.
Activities in the Field of Humanitarian Aid[edit]
The company is active in the fight against corruption. Christina Bage-Friborg, Head of Sustainable Business, was one of the speakers at the half-yearly status meeting of the Swedish Leadership for Sustainable Development (SLSD), a network run by the Swedish International Development Cooperation Agency (Sida), where she presented the results of the work performed by the anti-corruption group. Sandvik Italy has participated in "Call for ideas" – a competition that rewards sustainable business ideas from young people. It resulted in 179 sustainable business ideas.
