Sandvik plans joint venture with Zhuzhou Group

June 18, 2014

June 18, 2014

Sweden’s Sandvik AB has announced the signing of a letter of intent with Zhuzhou Cemented Carbide Group Co., Ltd, China, to form a joint venture for strategic cooperation. Under the agreement the two companies intend manufacture products at Zhuzhou Group’s existing facilities in China, with products being sold and marketed in and outside China.

It was stated that, based on the strength of Sandvik Machining Solutions and the position of Zhuzhou Group, the ambition is to drive profitable growth and capture market shares in the fast-growing mid-market segment.

The Zhuzhou Group is the largest domestic manufacturer in China of cemented carbide and its compatible tools. It also offers smelting services for tungsten, molybdenum, tantalum, niobium and cobalt. The company is based in Zhuzhou, China, and the number of employees encompassed by the strategic cooperation is approximately 2,000. Annual sales for the part of the business concerned amount to about 1.3 billion RMB.

“The cooperation with Zhuzhou Group strengthens our position in one of our largest markets, China. It is also in line with our current strategy to become a key player in the mid-market segment, which has been growing in size and importance in recent years,” stated Jonas Gustavsson, President of Sandvik Machining Solutions.

“Expanding beyond the premium segment in the metal-cutting tool industry is an important part of Sandvik’s growth ambitions. This preliminary agreement is a significant step in that direction,” added Olof Faxander, Sandvik’s President and CEO.

The letter of intent between Sandvik and the Zhuzhou Group expresses the parties’ preliminary intention to negotiate a strategic cooperation. It does not impose any binding obligation on either party to enter into final and definitive agreements relating to the strategic cooperation. 


June 18, 2014

In the latest issue of PM Review…

Download PDF

Extensive Powder Metallurgy industry news coverage, and the following exclusive deep-dive articles and reports:

  • Höganäs’ fourth reinvention: Creating sustainable metal powders for automotive electrification
  • Powder Metallurgy in China: Markets, applications and the impact of vehicle electrification
  • Taking control of your metal powder supply chain: Blue Power’s solutions for in-house atomisation
  • Shaping the future: Dorst Technologies on digitisation, data and the PM ‘smart factory’
  • JPMA Awards 2022: PM process innovations supporting the route to carbon neutrality

The latest news from the world of metal powders, delivered to your inbox

Don't miss any new issue of PM Review, and get the latest industry news. Sign up to our weekly newsletter.

Sign up

Join our community

Discover our magazine archive…

The free-to-access PM Review magazine archive offers unparalleled insight into the world of Powder Metallurgy from a commercial and technological perspective through:

  • Reports on visits to leading PM part manufacturers, metal powder manufacturers and industry suppliers
  • Articles on technology and application trends
  • Information on materials developments
  • Reviews of key technical presentations from the international conference circuit
  • International industry news

All past issues are available to download as free PDFs or view in your browser.


Browse the archive


Looking for PM production equipment, metal powders, R&D support and more?

Discover suppliers of these and more in our
advertisers’ index and buyer’s guide, available in the back of PM Review magazine.

  • Powders & materials
  • Powder process, classification & analysis
  • PM products
  • Atomisers & powder production technology
  • Compaction presses, tooling & ancillaries
  • Sintering equipment & ancillaries
  • Post-processing
  • Consulting & toll sintering
Download PDF
Share via
Copy link