Sandvik partners with EIB for major R&D funding boost

Sandvik has secured a loan agreement worth EUR 500 million with the European Investment Bank (EIB) on favourable terms. The loan, which has a seven-year maturity, will support Sandvik’s research and development (R&D) initiatives through 2030. The focus of these investments is on creating new advanced, productive, safe, and sustainable solutions across the company's various business segments.

“We have a strong strategic focus on developing solutions that strengthen our technology leadership, and that enhances productivity, safety and sustainability for our customers. The EIB financing supports our R&D initiatives and provides flexibility to our overall funding strategy," Stefan Widing, president and CEO of Sandvik, stated.

Sandvik, a Swedish multinational engineering company, specializes in mining and rock excavation, metal-cutting, and materials technology. The company is known for its commitment to innovation and sustainability, evidenced by its extensive R&D efforts aimed at tackling industry challenges and improving operational efficiencies.

The EIB serves as the lending institution for the European Union (EU) and aims to enhance EU competitiveness, foster technological innovation, and promote sustainable development by financing R&D projects within the region.

More information is posted at www.home.sandvik/en/