Sandvik Coromant Announces Increased Investment in Research and Development
Fair Lawn, New Jersey, April 22, 2008 - Sandvik Coromant has announced that it will be increasing the size of its research and development department by nearly 20%, adding 40 new employees over the next three years. Between its R&D department and the research center for cemented carbides in Vastberga, Sweden, the company currently employs over 200 employees.
"Customers' own rate of change has increased and we have to respond to their new needs by having new solutions ready much faster than before," says Magnus Ekback, manager of research and development at Sandvik Coromant. "With increased R&D resources, we can further shorten the lead time for new products, knowledge and methodologies."
The most substantial phase of hiring will take place in 2008, with over 20 new positions to be filled during the calendar year. Sandvik Coromant has established contact with a variety of Swedish universities and colleges to ensure access to the brightest minds entering the industry.
About Sandvik Coromant
As the world-leading supplier of high quality cutting tools, Sandvik Coromant helps customers think smart, work smart and earn smart. The company provided US customers with $70 million in documented cost savings in 2007. For more information regarding products, applications and services that can help you Earn Smart, contact Sandvik Coromant Company, 1702 Nevins Road, Fair Lawn, NJ 07410, phone 201.794.5223, fax 201.794.5217 or visit http://www.coromant.sandvik.com/us.
CONTACT:
Tel: Björn Roodzant
201-794-5223
Jim May, dgs
317-813-2226
