The money will be used for construction in Europe and Asia.

Sandvik has announced it will invest some €23.5 million in operations of its Coromant division based in Sweden and China.

The company said it plans to create a new prototype workshop for cemented-carbide tools and a new productivity and application centre in Sandviken, Sweden, and a new application centre at the production unit in Langfang, China.

Sandvik Coromant President Klas Forsström said, “The investments represent part of our future strategy to ensure that the most efficient applications and training methods are used in our operations.”

Sandvik Coromant, part of the machining solutions business area of the parent company, is a leading supplier of tools, tooling systems, service and expertise in the area of metal cutting. Sandvik Coromant has approximately 8,000 employees worldwide. Its head office, and some manufacturing, is located in Sandviken, Sweden, where some 600 people are employed.

Tags:

Original Hyperlink: http://www.etmm-online.com/management_it/articles/390469/..

For more information from this magazine/website? Please click here http://www.etmm-online.com/

Note: The copyright and the ownship of the brand, product names, product numbers, and content mentioned belongs to their repective companies.