Sandvik, the leading supplier of cutting tools and materials technology, has announced it will open a new production plant for titanium and nickel fine metal powders in Sandviken, Sweden.
The EUR 20 million investment will complement Sandvik’s existing powder offering and strengthen the company’s position in the rapidly growing markets for metal powder and metal additive manufacturing.
The new production facility is due to open in 2020.
“This investment is an enabler for future growth and means that we are expanding our metal powder offering to include virtually all alloy groups of relevance today. In addition, it will support the overall additive manufacturing business at Sandvik”, says Annika Roos, Head of product area Powder at Sandvik Materials Technology.
The location of Sandvik’s metal powder plant has strategic importance as it will be near the company’s in-house titanium raw material supply and Sandvik’s center for additive manufacturing.
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Global demand for metal powder for additive manufacturing is expected to increase significantly in the coming years. Titanium and nickel based alloys are key growth areas and account for a large portion of the metal powder market.
“The metal powder segment and the additive manufacturing business are of increasingly strategic importance to us. This investment should be viewed as the latest evidence of our commitment to an area that we believe strongly in”, says Göran Björkman, President of Sandvik Materials Technology.
Sandvik has an industry leading position in the production and sale of fine metal powders. Stainless steel, nickel based and cobalt-chromium alloys are manufactured in the United Kingdom and Sweden with sales taking place across Europe, North America and Asia through the Osprey™ brand.
The Sandvik Group is a global high technology enterprise with 43,000 employees in 130 countries. Sandvik’s operations are concentrated on three core businesses: Sandvik Machining Solutions, Sandvik Mining and Rock Technology and Sandvik Materials Technology.