Sandvik to Focus on Asian Business

Swedish special steel, cemented carbide tool and mining machinery maker, Sandvik focuses on Asian market. The firm eyes globalization and local market development in Asian countries. The firm emphasized the strategy at the ceremony for the fiftieth anniversary of subsidiary in Japan held on Friday.

Sandvik’s special steel making company, Sandvik Materials Technology started operation of Chinese new tube mill and opened service center in 2010. Sandvik Materials Technology’s senior vice president and sales director Asia Pacific region Nigel Haworth said the company eyes new Asian production base with delivery advantage and potential for expansion while the firm improves supply from Europe.

The company focuses on material supply for Chinese power and energy industries. Mr. Haworth estimates China government continues support for the industries, especially for power industry. He estimates the Chinese business outlook is very good. He also expects the economy development in India, Vietnam and Indonesia.

Sandvik set new plan to utilize common resources through the reshuffle of the former 3 units into 5 units in January 2012.

Sandvik’s Japanese subsidiary started company system in January 2011. The firm will expend 500 million yen to expand insert chips production capacity at plant in Miyagi, Japan. The firm will find the timing to resume pending total 20 billion yen of expansion program depending on the economy condition while the firm froze the program after Lehman Shock.