Posted July 20, 2010
Sandvik sales up 14 percent
Cutting tool maker Sandvik reported sales in the second quarter amounted to SEK 20,603 M ($2.79 billion), up 14% in total and 15% at fixed exchange rates for comparable units compared with the second quarter in the preceding year.
"Demand for Sandvik's products continued to improve in the second quarter. The Group's operating result improved to SEK 3.5 billion and the operating margin rose to 17%," said president and CEO Lars Pettersson
Order intake remained strong in Asia and improved in other markets. Demand from the energy sector remained high and an increase was noted in the automotive, mining and process industries.
