Latest news with #Sandvik
Yahoo
20-05-2025
- Business
- Yahoo
Sandvik Capital Markets Day: Advancing to 2030
STOCKHOLM, May 20, 2025 /PRNewswire/ -- Sandvik is today and tomorrow hosting a Capital Markets Day for institutional investors, analysts and financial media in Gimo, Sweden. Presentations will be held by President and CEO Stefan Widing, CFO Cecilia Felton, and the business area presidents, who will provide updates on Sandvik's equity story, including key achievements and strategic priorities for the new strategy period: 'Advancing to 2030'. Sandvik will also take the opportunity to showcase its latest innovations through guided tours with focus on new technologies, digitalization and automation. During the presentations, Sandvik will reconfirm the long-term financial targets for the Group. "Sandvik has become a more resilient company with a strengthened growth potential through our transformation in recent years, and we have successfully delivered on our ambitious targets. We look forward to show during the Capital Markets Day how we intend to leverage our strong platform and become an even stronger Group, advancing to 2030," says Stefan Widing, President and CEO of Sandvik. The main focus areas that will be covered: The transformation to enhance growth potential and resilience Successful strategy execution, and key achievements Financial targets for the next strategy period: Advancing to 2030 The strength of the Sandvik Group platform, enhanced by a leading offering across digitalization, automation and electrification Sandvik will also take the opportunity to present an updated Group structure effective as of January 1, 2026, which entails the formation of two business areas from the current Sandvik Manufacturing and Machining Solutions. This change will further sharpen the focus on profitable growth and provide transparency on the financial development of the two separate areas, while continuing to deepen collaboration. Sandvik will also update the names of the business areas as of July 1, 2025. When these changes have been completed, Sandvik will comprise of the following four business areas: Mining, Rock Processing, Machining, and Intelligent Manufacturing. To support strategy execution and the continuous work of driving operational efficiency and margin resilience, Sandvik will implement restructuring measures throughout the 2025-2030 period in business area Machining. The activities will improve Sandvik's geographical manufacturing footprint aligned with increasing regionalization, and support capabilities to capture growth opportunities going forward. The initiatives are expected to result in annual run-rate savings of SEK 1 billion by the end of 2030, with a total of SEK 3 billion in restructuring costs impacting reported EBITA in business area Machining over the full period. The associated savings and costs are expected to be related to site consolidations and from organizational efficiency measures. The phasing of savings and costs will be communicated over the period when the main activities are decided, implemented and recognized. Stockholm, May 20, 2025 Sandvik AB For further information, contact:Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374, orJohannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008 This information was brought to you by Cision The following files are available for download: Sandvik Capital Markets Day_ Advancing to 2030 View original content: SOURCE Sandvik
Yahoo
15-05-2025
- Politics
- Yahoo
Norway to complete F-16 deliveries to Ukraine by end of 2025, minister says
Norway will complete its planned deliveries of F-16 fighter jets to Ukraine by the end of 2025, Defense Minister Tore O. Sandvik told NRK in an interview published on May 15. Norway confirmed in July 2024 that it would donate several of the U.S.-made aircraft as part of Western efforts to strengthen Ukraine's air defenses. Some jets have already been transferred, Sandvik said, but declined to specify the exact number delivered so far, citing operational security concerns and ongoing consultations with Ukrainian officials. "The donation of Norwegian F-16s is proceeding according to plan," Sandvik said. Last year, Norway also boosted its support to the Ukrainian Air Force with an additional 1.3 billion kroner (around $120 million), aimed at enhancing Ukraine's ability to defend against Russian missile and drone attacks. "With this contribution, Norway is helping to strengthen Ukraine's air defense, in cooperation with other members of the Air Force Coalition," Sandvik said. Norway is part of the international F-16 coalition, alongside 10 other countries, that has been training Ukrainian pilots and coordinating the delivery of Western fighter jets to Ukraine. In April, Norway and the U.K. also agreed to provide a 450 million pound ($585 million) military aid package to Ukraine, which included funding for the repair and maintenance of previously supplied vehicles and equipment, and financing for radar systems, anti-tank mines, and hundreds of thousands of drones. Read also: Russian fighter jet 'violated NATO territory' after Estonia tried to detain 'shadow fleet' tanker We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
15-05-2025
- Politics
- Yahoo
Ukraine to receive all F-16s pledged by Norway by end of 2025
Norwegian Defence Minister Tore O. Sandvik has confirmed that the delivery of the F-16 fighter jets pledged to Ukraine will be completed in 2025. Source: NRK, a Norwegian public broadcasting company, as reported by European Pravda Details: The Norwegian defence minister stated that Ukraine had received "some aircraft", while the remaining jets will be handed over within 2025. Sandvik added that the transfer of Norwegian F-16s is proceeding as planned, but for operational security reasons and following consultations with Ukraine, the number of aircraft delivered will not be disclosed. He also recalled that in 2024, the Norwegian government increased its support for Ukrainian air defence by NOK 1.3 billion (approx. US$124.8 million). Sandvik stated that with this contribution, Norway is helping to enhance Ukraine's air defence in cooperation with other members of the air defence coalition, an international group focused on supporting and developing Ukraine's air defence capabilities. Background: In July 2024, the Norwegian government decided to provide Ukraine with six F-16 fighter jets. Later that year, Ukrainian Defence Minister Rustem Umierov announced the handover of the first Norwegian fighter jets to Ukraine. Support Ukrainska Pravda on Patreon!
West Australian
14-05-2025
- Business
- West Australian
New underground loader to help TAFE students learn about mining and trades work
A new underground loader will help enhance the education of Central Regional TAFE students in Kalgoorlie-Boulder. Northern Star Mining Services has donated the Sandvik LH5 517i underground loader to expand the education institution's ability to provide the latest industry standard technology at its Kalgoorlie Trade Training Centre. The state-of-the-art heavy trades and engineering workshops were opened in March last year. The TAFE said the donation not only added to existing resources but also ensured students received direct experience with current equipment in the mining industry. 'The underground loader will play a crucial role in our training programs, offering students practical insights and skills that are essential for a successful career in mining operations, trades, and services industries,' it said. 'By integrating this machinery into our curriculum, we aim to better prepare our students for the demands of the industry and enhance their employability.' As well as Northern Star Mining Services, other business involved with providing parts and labour, and preparing the loader, included Dynamic Maintenance Services, Worthy Engineering, Statewest Group, Hydramech and ATS.
Yahoo
12-04-2025
- Politics
- Yahoo
Norway pledges around $940 million to train and equip Ukrainian brigade
Norway will allocate 10 billion Norwegian kroner (approximately $937 million) in 2025 to help equip and train a Ukrainian military brigade, Defense Minister Tore O. Sandvik announced on April 11 during a Ukraine Defense Contact Group meeting, according to the Norwegian government. The initiative is part of a broader Nordic-Baltic effort to support Ukraine's land forces. Norway will take the lead role in the training component, working in close coordination with Ukrainian authorities and allied nations. 'Norway stands united with Europe for stronger support for Ukraine, politically, economically, and militarily,' Sandvik said. 'Our contribution is both material from our own defense and acquisitions of ammunition and materiel from Ukrainian and international industry. Not least, we will contribute with training.' Instead of establishing an entirely new brigade, the initiative will concentrate on developing modular units — smaller components designed to integrate into and strengthen Ukraine's existing brigades. These brigades typically comprise 3,000 to 5,000 soldiers and possess a variety of combat capabilities that enable them to operate independently. 'Under Norwegian leadership, the Nordic and Baltic countries work closely with Ukrainian authorities to ensure that the training and equipment meet Ukrainian needs as well as possible,' Sandvik explained. The previous initiatives to have Ukraine's Western backers train and equip new brigades were highly controversial. The 155th Brigade was intended to be a flagship project for Ukrainian brigades trained and armed with the assistance of foreign partners. French President Emmanuel Macron announced in June that France would provide training and military supplies as part of this initiative. Despite Paris fulfilling its commitments for training and arms provision, an investigation led by Yurii Butusov, editor-in-chief of Ukrainian media outlet pointed to problems in the brigade's creation and management, allegedly leading to 1,700 cases of soldiers going AWOL from the unit before firing a shot. During the Brussels summit, Sandvik also held a bilateral meeting with Ukrainian Defense Minister Rustem Umerov. According to Bloomberg, Norway also joined the U.K. in pledging a joint $585 million military aid package to Ukraine. The U.K. will contribute £350 million ($455 million), while Norway will provide £100 million ($130 million) through the U.K.-led International Fund for package includes support for the repair of previously delivered equipment, radar systems, anti-tank mines, and hundreds of thousands of drones. Earlier this week, Oslo also committed $454 million to procure artillery shells for Ukraine. Read also: Inside Ukraine's desperate race to train more soldiers We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
