Sandvik Lowers Production as Toolmaker’s Demand Weakens
This article is for subscribers only.
Sandvik AB, the world’s biggest maker of metal-cutting tools, said it will cut production and search for more cost savings in response to weak demand.
Reductions will affect the materials technology, construction and machining solutions divisions, the manufacturer said today in a statement, without giving details on how much it will lower output. The Swedish company also reported third-quarter earnings that missed analysts’ estimates.