Sandvik signs EUR 500 million loan agreement with the European Investment Bank

STOCKHOLM, Jan. 18, 2023 /PRNewswire/ -- Sandvik has signed a EUR 500 million loan agreement with the European Investment Bank (EIB). The loan will support Sandvik's investments in research and development (R&D), which include advanced solutions in component manufacturing as well as solutions for electrification and automation in mining and infrastructure. 

"We have a strong strategic focus on developing solutions that improve sustainability, productivity and safety in our core industries of mining, component manufacturing and infrastructure. The EIB cooperation will support our R&D initiatives and our aim to stay at the forefront and develop our technology leadership," says Stefan Widing, President and CEO of Sandvik.

The loan has a seven-year tenor and will support Sandvik's R&D investment plans until 2025.  

Stockholm, January 18, 2023

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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SOURCE Sandvik