Sandvik AB
Industrial Machinery
Sandvik's founding moment is a chapter in industrial history: in 1862, Swedish businessman Göran Fredrik Göransson became the first person to make steel successfully using the Bessemer process — blowing air through molten iron to remove carbon — at his mill in Sandviken. That breakthrough made high-quality steel affordable and gave the company its name, its fortune, and an obsession with materials science that continues today.
The modern Sandvik is built on two pillars: manufacturing and machining (metal cutting tools, tooling systems, and the cemented carbide that gives them their edge) and mining & rock solutions (drilling rigs, crushers, and underground loaders that extract the world's minerals). Its Sandvik Coromant brand is the global benchmark for turning, milling, and drilling tools, and its mining equipment operates in the deepest mines on earth.
With about 41,000 employees and annual revenue near SEK 130 billion, Sandvik has divested its steel and tools businesses to focus on its two strongest franchises. For manufacturers, Sandvik tools are the default spec on many CNC machines; for mining companies, Sandvik's autonomous drilling and haulage systems are leading the industry's push into automated, safer underground operations.
