Second Fastest Growing Construction Equipment Company (ALLIED) - Sandvik
Sandvik is the world's leading supplier of drilling and excavation machinery equipment and tools and services for mining and construction. The engineering group provides advanced products like rock tools and systems, drill rigs and rock drills, load and haul equipment, crushers and screens, conveyor components, bulk material handling equipment and mine automation systems. Founded in 1862, the company carries out business activities through 130 countries. It recently announced the world's largest hydraulic top hammer rock drill, RD2045C, delivering increased drilling capacity, more efficient rock breaking, improved blast fragmentation and higher reliability. Sandvik has announced plans to manufacture India-specific construction equipment in the country as part of its strategy to focus on the construction and mining sector that has been identified as a major growth area. The company has acquired 50 acre at Chakan near Pune for this purpose. The facility is expected to be up and running by 2015. Sandvik will source components from India for export to its other plants globally.
The company's standalone revenue in 2012-2013 declined 0.4 per cent to Rs 2,064.4 crore while its net profit declined 19.7 per cent to Rs 72.70 crore from Rs 90.5 crore in the previous year.