P12 Shares in Group companies
|
2019 |
2020 |
|---|---|---|
Cost |
|
|
At the beginning of the year |
31,528 |
43,044 |
Additions |
5,825 |
349 |
Capital contributions |
6,068 |
1,136 |
Captial reductions |
–27 |
– |
Divestment |
–350 |
–460 |
At the end of the year |
43,044 |
44,069 |
|
|
|
Accumulated impairment losses |
|
|
At the beginning of the year |
–751 |
–471 |
Impairment losses for the year |
– |
–54 |
Impairment reversed for the year |
280 |
– |
At the end of the year |
–471 |
–525 |
|
|
|
Accumulated revaluations |
|
|
At the beginning of the year |
0 |
0 |
At the end of the year |
0 |
0 |
Carrying amount at year-end |
42,573 |
43,544 |
|
|
2019 |
2020 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||
Company, domicile |
Corp. Reg. number |
No. of shares |
Holding, %2) |
Carrying amount 000s SEK |
No. of shares |
Holding, %2) |
Carrying amount 000s SEK |
||||
SWEDEN |
|
|
|
|
|
|
|
||||
Gimo Utbildningsaktiebolag, Gimo |
556061–4041 |
1,000 |
91 |
3,656 |
1,000 |
91 |
7,527 |
||||
Industri AB Skomab, Sandviken |
556008–8345 |
2,000 |
100 |
21,946 |
2,000 |
100 |
21,946 |
||||
Sandvik Global Purchasing AB, Stockholm |
556052–4315 |
1,000 |
100 |
50 |
1,000 |
100 |
50 |
||||
AB Sandvik Coromant, Sandviken1) |
556234–6865 |
1,000 |
100 |
50 |
1,000 |
100 |
50 |
||||
Sandvik Coromant Sverige AB, Stockholm1) |
556350–7846 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Sandvik Far East Ltd. AB, Sandviken |
556043–7781 |
10,000 |
100 |
10,000 |
10,000 |
100 |
10,000 |
||||
Sandvik Försäkrings AB, Sandviken |
516401–6742 |
1,500 |
100 |
81,000 |
1,500 |
100 |
81,000 |
||||
Sandvik Besöksservice AB, Sandviken1) |
556235–3838 |
1,000 |
100 |
50 |
1,000 |
100 |
50 |
||||
Sandvik Intellectual Property AB, Sandviken |
556288–9401 |
1,000,000 |
100 |
3,499,950 |
1,000,000 |
100 |
3,499,950 |
||||
AB Sandvik International, Sandviken1) |
556147–2977 |
1,000 |
100 |
50 |
1,000 |
100 |
50 |
||||
Sandvik Materials Technology EMEA AB, Stockholm |
556734–2026 |
501,000 |
100 |
5,782,350 |
501,000 |
100 |
6,623,705 |
||||
Sandvik Construction AB, Sandviken1) |
556664–9983 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Sandvik Mining and Construction Sverige AB, Sandviken1) |
556288–9443 |
1,000 |
100 |
50 |
1,000 |
100 |
50 |
||||
Sandvik Mining and Construction Tools AB, Sandviken1) |
556234–7343 |
1,000 |
100 |
50 |
1,000 |
100 |
50 |
||||
Sandvik Rotary Tools AB, Köping |
556191–8920 |
101,000 |
100 |
103,231 |
101,000 |
100 |
103,231 |
||||
AB Sandvik Skogsfastigheter, Sandviken |
556579–5464 |
1,000 |
100 |
51 |
1,000 |
100 |
51 |
||||
AB Sandvik Steel Investment, Sandviken |
556350–7853 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Sandvik Stål Försäljnings AB, Stockholm1) |
556251–5386 |
1,000 |
100 |
50 |
1,000 |
100 |
50 |
||||
Sanrip AB, Sandviken1) |
556692–0038 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Sandvik Machining Solutions AB, Sandviken1) |
556692–0053 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Sandvik Utbildnings AB, Sandviken |
556304–8791 |
910 |
91 |
28,342 |
910 |
91 |
37,947 |
||||
Sandvikens Brukspersonals Byggnadsförening upa, Sandviken |
785500–1686 |
– |
100 |
0 |
– |
100 |
0 |
||||
Dormer Pramet AB, Halmstad |
556240–8210 |
80,000 |
100 |
46,145 |
80,000 |
100 |
46,145 |
||||
Walter Norden AB, Halmstad |
556752–4698 |
15,000 |
100 |
5,139 |
15,000 |
100 |
5,139 |
||||
Sandvik Mining and Construction Köping AB, Köping1) |
556776–9525 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Wire Sandviken AB, Sandviken1) |
556779–3897 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Sandvik IT Services AB, Sandviken1) |
556788–9059 |
1,000 |
100 |
100 |
1,000 |
100 |
100 |
||||
Sandvik Venture AB, Stockholm1) |
556868–7155 |
1,000 |
100 |
100 |
1,000 |
100 |
281048 |
||||
Sandvik Credit AB, Stockholm |
556843–7296 |
10,000 |
100 |
75,000 |
10,000 |
100 |
75,000 |
||||
Seco Tools AB, Fagersta |
556071–1060 |
145,467,690 |
100 |
15,658,859 |
145,467,690 |
100 |
15,658,859 |
||||
Sandvik PT AB, Sandviken |
556207–5191 |
2,500 |
100 |
4,740,600 |
2,500 |
100 |
4,740,600 |
||||
Goldcup 26940 AB |
559291–1035 |
– |
– |
– |
25,000 |
100 |
25 |
||||
Goldcup 26939 AB |
559291–1027 |
– |
– |
– |
25,000 |
100 |
25 |
||||
Goldcup 26938 AB |
559291–1019 |
– |
– |
– |
25,000 |
100 |
25 |
||||
|
|
2019 |
2020 |
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|||||||||||||||||
Country/Location |
Company |
No. of shares |
Holding, %2) |
Carrying amount 000s SEK |
No. of shares |
Holding, %2) |
Carrying amount 000s SEK |
||||||||||
Australia |
Sandvik Australia Pty. Ltd. |
– |
253,4) |
235,382 |
– |
– |
– |
||||||||||
|
Sandvik Australian Ltd. Partnership |
– |
99 |
– |
– |
– |
– |
||||||||||
Brazil |
Sandvik Holding Do Brasil Ltda |
339,135,756 |
100 |
790,695 |
339,135,756 |
100 |
790,695 |
||||||||||
Bulgaria |
Sandvik Bulgaria Ltd. |
– |
100 |
0 |
– |
100 |
0 |
||||||||||
Chile |
Sandvik Credit Chile S.A. |
9,900 |
99 |
165,331 |
9,900 |
99 |
165,331 |
||||||||||
China |
Sandvik China Holding Co Ltd. |
– |
100 |
1,579,078 |
– |
100 |
1,579,078 |
||||||||||
|
Sandvik Materials Technology (China) Ltd. |
– |
233) |
282,749 |
– |
233) |
230,343 |
||||||||||
Czech Republic |
Sandvik CZ s.r.o. |
– |
100 |
0 |
– |
100 |
0 |
||||||||||
Democratic Republic of Congo |
Sandvik Mining and Construction DRC S.P.R.L. |
9,990 |
100 |
4,898 |
9,990 |
100 |
4,898 |
||||||||||
Hungary |
Sandvik Magyarorszag Kft. |
– |
100 |
3,258 |
– |
100 |
3,258 |
||||||||||
India |
Sandvik Asia Ltd. |
1,801,241 |
755) |
252,481 |
1,801,241 |
755) |
252,481 |
||||||||||
|
Sandvik Materials Technology India Private Ltd. |
– |
– |
– |
1,801,241 |
755) |
2,084 |
||||||||||
|
Sandvik Mining and Rock Technology India Private Ltd. |
– |
– |
– |
1,801,241 |
755) |
2,084 |
||||||||||
Ireland |
Sandvik Mining and Construction Logistics Ltd. |
100 |
100 |
5,508 |
100 |
100 |
5,508 |
||||||||||
Japan |
Sandvik Materials Technology Japan K.K. |
2,780,000 |
100 |
224,701 |
– |
– |
– |
||||||||||
|
Sandvik K.K. |
– |
– |
– |
8,000 |
100 |
224,207 |
||||||||||
Korea |
Sandvik Korea Ltd. |
752,730 |
100 |
20,185 |
752,730 |
100 |
20,185 |
||||||||||
Mali |
Sandvik Mining and Construction Mali |
25,000 |
100 |
3,462 |
25,000 |
100 |
3,462 |
||||||||||
Mexico |
Sandvik Méxicana S.A. de C.V. |
406,642,873 |
903) |
712,312 |
406,642,873 |
903) |
712,312 |
||||||||||
Mongolia |
Sandvik Mongolia LLC. |
400,000 |
100 |
2,682 |
400,000 |
100 |
2,682 |
||||||||||
Netherlands |
Sandvik Finance B.V. |
18,788 |
100 |
7,093,582 |
18,788 |
100 |
7,093,582 |
||||||||||
|
Frost Holding B.V. |
1 |
100 |
1105 |
1 |
100 |
0 |
||||||||||
Peru |
Sandvik del Perú S.A. |
6,562,795 |
903) |
26,025 |
6,562,795 |
903) |
26,025 |
||||||||||
Russia |
Sandvik LLC |
– |
– |
– |
– |
100 |
67,238 |
||||||||||
|
Sandvik Mining and Constructiion CIS LLC |
– |
– |
– |
– |
100 |
45,015 |
||||||||||
Serbia |
Sandvik Mining and Rock Technology LLC Belgrade |
– |
– |
– |
– |
100 |
7,898 |
||||||||||
Slovakia |
Sandvik Slovakia s.r.o. |
– |
100 |
1,238 |
– |
100 |
1,238 |
||||||||||
South Africa |
Sandvik Holding Southern Africa (Pty) Ltd |
1,107,501 |
100 |
1,084,567 |
1,107,501 |
100 |
1,084,567 |
||||||||||
Turkey |
Sandvik Endüstriyel Mamüller Sanayi ve Ticaret A.S. |
125,154,588 |
100 |
3,200 |
125,154,588 |
100 |
3,200 |
||||||||||
UAE |
Sandvik Middle East FZE. |
1 |
100 |
19,886 |
1 |
100 |
19,886 |
||||||||||
Zimbabwe |
Sandvik Mining and Construction Zimbabwe (Pty) Ltd. |
233,677 |
100 |
3,269 |
233,677 |
100 |
3,269 |
||||||||||
Total |
|
|
|
42,573,113 |
|
|
43,543,899 |
||||||||||
Country/Location |
Company |
2019 |
2020 |
||
|---|---|---|---|---|---|
|
|||||
Sweden |
Sandvik Materials Technology StripTech AB |
– |
100 |
||
|
Sandvik Treasury AB |
100 |
100 |
||
|
Sandvik Materials Technology Treasury AB |
100 |
100 |
||
|
Metrolog Services Nordic AB |
100 |
100 |
||
|
SETP Invest AB |
100 |
100 |
||
|
Sandvik Invest Aktiebolag |
100 |
100 |
||
|
Seco AB |
100 |
100 |
||
|
Pramet Scandinavia AB |
100 |
100 |
||
|
AB Sandvik Materials Technology |
– |
100 |
||
|
Kanthal AB |
100 |
100 |
||
|
Sandvik Powder Solutions AB |
100 |
– |
||
|
Sandvik Mining and Construction Haparanda AB |
100 |
100 |
||
|
Sandvik SRP AB |
100 |
100 |
||
|
JV Rock Drill Steel |
– |
100 |
||
Argentina |
ESIP Energy S.A. |
50 |
– |
||
|
Seco Tools Argentina S.A. |
100 |
100 |
||
|
Sandvik Argentina S.A. |
100 |
100 |
||
|
Sandvik Mining and Construction Argentina S.A. |
100 |
100 |
||
Armenia |
Sandvik Mining and Rock Technology AM LLC |
100 |
100 |
||
Australia |
Sandvik Australia Pty Ltd |
100 |
100 |
||
|
Sandvik Financial Services Pty Ltd |
100 |
100 |
||
|
Sandvik Australian Limited Partnership |
100 |
100 |
||
|
Sandvik Mining and Construction Australia (Production/Supply) Pty Ltd |
100 |
100 |
||
|
NTX Australia Pty Ltd |
100 |
100 |
||
|
Terelion (Australia) Pty Ltd |
100 |
100 |
||
|
Seco Tools Australia Pty Ltd |
100 |
100 |
||
|
Sandvik Australia Holdings Pty Ltd |
100 |
100 |
||
|
Sandvik Mining and Construction Australia Pty Ltd |
100 |
100 |
||
Austria |
Sandvik in Austria Gesellschaft GmbH |
100 |
100 |
||
|
Walter Austria GmbH |
100 |
100 |
||
|
Wolfram Bergbau und Hütten AG |
100 |
100 |
||
|
Seco Tools Gesellschaft GmbH |
100 |
100 |
||
|
Sandvik Mining and Construction G.m.b.H. |
100 |
100 |
||
|
Sandvik Mining and Construction Materials Handling GmbH & Co KG |
100 |
100 |
||
|
Sandvik Mining and Construction Materials Handling GmbH |
100 |
100 |
||
Belarus |
OOO Walter Tools |
– |
100 |
||
Belgium |
Walter Benelux N.V./S.A. |
100 |
100 |
||
|
S.A. Seco Tools Benelux N.V. |
100 |
100 |
||
Botswana |
Sandvik Botswana (Pty) Ltd |
100 |
100 |
||
Brazil |
Sandvik Coromant Do Brasil Industria e Comercio de Ferramentas Ltda |
100 |
100 |
||
|
Walter do Brazil Ltda |
100 |
100 |
||
|
Dormer Pramet Solucoes Para Usinagem Ltda |
100 |
100 |
||
|
Sandvik Materials Technology do Brasil Industria e Comercio Ltda |
100 |
100 |
||
|
Sandvik Holding do Brazil Ltda |
100 |
100 |
||
|
Seco Tools Indústria e Comércio Ltda. |
100 |
100 |
||
|
Sandvik MGS S.A. |
100 |
100 |
||
|
Sandvik Mining and Rock Technology do Brasil Ltda |
100 |
100 |
||
|
CGTech Brasil Consultoria de Software Eireli |
– |
100 |
||
Burkina Faso |
Sandvik Mining and Rock Technology Burkina Faso SARL |
100 |
100 |
||
Canada |
Systéme Guardian Inc. |
100 |
100 |
||
|
Sandvik Canada, Inc. |
100 |
100 |
||
|
Sandvik Materials Technology Canada, Inc. |
– |
100 |
||
|
Newtrax Holdings Inc |
100 |
100 |
||
|
Inrock Ltd. |
100 |
100 |
||
|
Newtrax Technologies Inc |
100 |
100 |
||
|
Varel Rock Bits Canada Inc |
100 |
– |
||
|
Artisan Vehicles, Inc. |
100 |
100 |
||
Chile |
Sandvik Chile S.A. |
100 |
100 |
||
|
NTX Chile SpA |
100 |
100 |
||
|
Sandvik Financial Services S.A. |
100 |
100 |
||
|
Sandvik Mining and Construction Chile S.A. |
100 |
100 |
||
China |
Sandvik Tooling Production (Langfang) Co. Ltd |
100 |
100 |
||
|
Sandvik Materials Technology (China) Co., Ltd |
100 |
100 |
||
|
Sandvik International Trading (Shanghai) Co Ltd |
100 |
100 |
||
|
Walter Wuxi Co. Ltd. |
100 |
100 |
||
|
Sandvik Coromant Cutting Tools (Shanghai) Ltd |
100 |
100 |
||
|
Sandvik Rock Tools Technology (Wuxi) Co., Ltd |
100 |
100 |
||
|
Varel Beijing Trading Co Ltd |
100 |
– |
||
|
Dormer Tools (Shanghai) Co Ltd |
100 |
100 |
||
|
Sandvik Logistics (Shanghai) Co. Ltd |
100 |
100 |
||
|
Seco Tools (Shanghai) Co Ltd |
100 |
100 |
||
|
Kunshan OSK Precision Tools Co., Ltd |
100 |
100 |
||
|
Seco Tools Manufacturing (Shanghai) Co Ltd |
100 |
100 |
||
|
Pramet Tools (Shanghai) Co Ltd |
100 |
100 |
||
|
Sandvik Mining and Construction Trading (Shanghai) Co. |
100 |
100 |
||
|
Shanghai Jianshe Luqiao Machinery Co. Ltd |
80 |
80 |
||
|
Shandong Energy Machinery Group ZhongRui Minig Equipment 2) |
50 |
50 |
||
|
Sandvik Mining and Construction (China) Co Ltd |
100 |
100 |
||
|
Sandvik Mining and Construction (Luoyang) Co Ltd |
100 |
100 |
||
|
Jinan Lingong Mining and Rock Technology Co Ltd |
65 |
65 |
||
|
Beijing CGTech Software Co., Ltd. |
– |
100 |
||
Colombia |
Sandvik Colombia S.A.S. |
100 |
100 |
||
Czech Republic |
Sandvik Chomutov Precision Tubes Spol. s.r.o. |
100 |
100 |
||
|
WALTER CZ s.r.o. |
100 |
100 |
||
|
Seco Tools CZ s.r.o. |
100 |
100 |
||
|
Dormer Pramet s.r.o. |
100 |
100 |
||
Denmark |
Sandvik A/S |
100 |
100 |
||
|
Seco Tools A/S |
100 |
100 |
||
DR Congo |
Sandvik Mining & Construction DRC S.P.R.L |
100 |
100 |
||
Finland |
Seco Tools Oy |
100 |
100 |
||
|
Sandvik Mining and Construction Oy |
100 |
100 |
||
|
Sandvik Mining and Construction Finland OY |
100 |
100 |
||
|
Tamrock Oy |
100 |
100 |
||
|
Oy Tampella Ab |
100 |
100 |
||
|
Sandvik Coromant Finland Oy |
100 |
100 |
||
|
Tammerfors Linne och Jern Ab |
100 |
100 |
||
France |
Sandvik Holding France S.A.S |
100 |
100 |
||
|
Sandvik Tooling France S.A.S |
100 |
100 |
||
|
Sandvik Materials Technology France SAS |
100 |
100 |
||
|
Walter France S.A.S. |
100 |
100 |
||
|
Gunther Tools |
100 |
100 |
||
|
Varel Europe S.A.S. |
100 |
– |
||
|
Sandvik Coromant Inserts France S.A.S |
100 |
100 |
||
|
Sandvik Mining and Construction Lyon S.A.S |
100 |
100 |
||
|
Sandvik Mining and Construction France S.A.S |
100 |
100 |
||
|
Financiere Metrolog SAS |
100 |
100 |
||
|
Metrologic Group SAS |
100 |
100 |
||
|
Metrologic Services SAS |
100 |
100 |
||
|
A.O.B. S.A.S |
100 |
100 |
||
|
Seco Tools France S.A.S. |
100 |
100 |
||
|
SECO Tools tooling systems SAS |
100 |
100 |
||
|
Seco Ressources et Finances SA |
100 |
100 |
||
|
Seco Tools Reaming SAS |
100 |
100 |
||
|
CGTech S.A.R.L. |
– |
100 |
||
Gabon |
Varel Gabon SARL |
100 |
– |
||
Germany |
Sandvik Materials Technology Deutschland GmbH |
100 |
100 |
||
|
Walter Deutschland GmbH |
100 |
100 |
||
|
Sandvik Tooling Deutschland GmbH |
100 |
100 |
||
|
Walter AG |
100 |
100 |
||
|
TDM Systems GmbH |
100 |
100 |
||
|
Comara GmbH |
100 |
100 |
||
|
Werner Schmitt PKD-Werkzeug GmbH |
100 |
100 |
||
|
Prototyp-Werke GmbH |
100 |
100 |
||
|
Metrologic Group GmbH |
100 |
100 |
||
|
Protomedical GmbH |
100 |
100 |
||
|
Kanthal GmbH |
– |
100 |
||
|
Sandvik Mining and Construction Deutschland GmbH |
100 |
100 |
||
|
Sandvik Mining and Construction Central Europe GmbH |
100 |
100 |
||
|
Sandvik Mining and Construction Crushing Technology GmbH |
100 |
100 |
||
|
Seco Tools GmbH |
100 |
100 |
||
|
Sandvik Holding GmbH |
100 |
100 |
||
|
CGTech Deutschland GmbH |
– |
100 |
||
Ghana |
Sandvik Mining & Construction Ghana Limited |
100 |
100 |
||
Hong Kong |
Smooth Team Investments Limited |
100 |
100 |
||
|
Sandvik Hongkong Ltd BA SMC |
100 |
100 |
||
Hungary |
Walter Hungaria Kft |
100 |
100 |
||
|
Seco Tools Kft |
100 |
100 |
||
|
Pramet Kft |
100 |
100 |
||
India |
Sandvik Asia Private Limited |
100 |
100 |
||
|
Walter Tools India Private Limited |
100 |
100 |
||
|
Seco Tools India Private Limited |
100 |
100 |
||
|
Dormer Tools India Private Limited |
100 |
100 |
||
|
Sandvik Materials Technology India Private Limited |
– |
100 |
||
|
Sandvik Mining and Rock Technology India Private Limited |
– |
100 |
||
|
CGTech India Software Solutions Private Limited |
– |
100 |
||
Indonesia |
PT Sandvik Indonesia |
100 |
100 |
||
|
PT Sandvik Mining and Construction Indonesia |
100 |
100 |
||
|
PT Seco Tools Indonesia |
100 |
100 |
||
|
PT Sandvik SMC |
100 |
100 |
||
Ireland |
Diamond Innovations International Sales |
100 |
100 |
||
Italy |
Sandvik Italia S.p.A. |
100 |
100 |
||
|
SSC Holding Italia SRL |
100 |
100 |
||
|
Walter Italia SRL |
100 |
100 |
||
|
Metrologic Group Italia S.R.L. |
100 |
100 |
||
|
Seco Tools Italia S.p.A SU |
100 |
100 |
||
|
Sandvik Materials Technology Italia S.R.L. |
– |
100 |
||
|
CGTech s.r.l. |
– |
100 |
||
Japan |
Sandvik Materials Technology K.K. |
100 |
100 |
||
|
Sandvik KK |
– |
100 |
||
|
Walter Japan K.K. |
100 |
100 |
||
|
Seco Tools Japan K.K. |
100 |
100 |
||
|
Sandvik Tooling Supply Japan K.K. |
100 |
100 |
||
|
Kabushiki Kaisha CGTech |
– |
100 |
||
Kazakhstan |
Sandvik Mining and Construction Kazakhstan Ltd |
100 |
100 |
||
Korea |
Walter Korea Ltd |
100 |
100 |
||
|
Sandvik Materials Technology Korea Co., Ltd. |
– |
100 |
||
|
Seco Tools Korea Ltd |
100 |
100 |
||
|
Sandvik SuhJun Ltd |
100 |
100 |
||
|
CGTech Co., Ltd. |
– |
100 |
||
Malaysia |
Sandvik Malaysia Sdn Bhd |
100 |
100 |
||
|
Seco Tools Sdn Bhd |
100 |
100 |
||
|
Walter Malaysia Sdn Bhd |
100 |
100 |
||
|
Downhole Products Asia Sdn Bhd |
100 |
– |
||
|
Sandvik Mining And Construction (M) Sdn Bhd |
100 |
100 |
||
Mexico |
NTX Mining Services S de RL de CV |
100 |
100 |
||
|
Sandvik SA de CV |
100 |
100 |
||
|
Sandvik Hard Materials de Mexico S.A. de C.V. |
100 |
100 |
||
|
Sandvik Materials Technology Mexico S.A. de C.V. |
– |
100 |
||
|
Walter Tools S.A. de C.V. |
100 |
100 |
||
|
Sandvik de Mexicana S.A. |
100 |
100 |
||
|
Varel de Mexico S.A. de C.V. |
100 |
100 |
||
|
Varel International de Mexico S.A. de C.V. |
100 |
– |
||
|
Valenite de Mexico |
100 |
100 |
||
|
Seco Tools de Mexico S.A. de C.V. |
100 |
100 |
||
|
Sandvik Mining and Construction de Mexico S.A. de C.V. |
100 |
100 |
||
Morocco |
Seco Tools S.A. |
100 |
100 |
||
Mozambique |
Sandvik Mining & Construction Mozambique Lda |
100 |
100 |
||
Namibia |
Sandvik Namibia (Pty) Ltd |
100 |
100 |
||
Netherlands |
Sandvik Benelux B.V. |
100 |
100 |
||
|
Sandvik DC Venlo BV |
100 |
100 |
||
|
Jabro Tools BV |
100 |
100 |
||
|
Sandvik Mining and Construction B.V. |
100 |
100 |
||
New Zealand |
Sandvik New Zealand Ltd |
100 |
– |
||
Nigeria |
Sandvik Mining & Construction Nigeria Limited |
100 |
100 |
||
|
Varel International Nigeria Limited |
75 |
– |
||
Norway |
Sandvik Teeness AS |
100 |
100 |
||
|
Seco Tools AS |
100 |
100 |
||
|
Sandvik Norge AS |
100 |
100 |
||
Papua New Guinea |
Sandvik Mining and Construction PNG Limited |
100 |
100 |
||
Peru |
Sandvik del Peru S.A. |
100 |
100 |
||
|
Newtrax Peru Sociedad Anonima Cerrada |
100 |
100 |
||
|
Sandvik Forestal S.A. |
100 |
100 |
||
|
Varel International Industries L.P Sucursal Del Peru |
100 |
– |
||
Philippines |
Sandvik Philippines Inc |
100 |
100 |
||
|
Sandvik Tamrock Philippines Inc |
100 |
100 |
||
Poland |
Sandvik Polska Sp. Z.o.o. |
100 |
100 |
||
|
Walter Polska SP. Z.o.o. |
100 |
100 |
||
|
Seco Tools Sp Z.o.o. |
100 |
100 |
||
|
Pramet Sp. Z.o.o. |
100 |
100 |
||
Portugal |
Seco Tools Portugal Lda |
100 |
100 |
||
Romania |
Sandvik SRL |
100 |
100 |
||
|
Walter Tools SRL |
100 |
100 |
||
|
Seco Tools Romania SRL |
100 |
100 |
||
Russia |
Newtrax Rus LLC |
100 |
100 |
||
|
LLC Walter |
100 |
100 |
||
|
Sandvik MKTC OAO |
100 |
100 |
||
|
LLC Sandvik |
100 |
100 |
||
|
Varel NTS, LLC |
100 |
– |
||
|
LLC Pramet |
100 |
100 |
||
|
LLC Seco Tools |
100 |
100 |
||
|
Sandvik Mining and Construction CIS LLC |
100 |
100 |
||
Saudi Arabia |
Varel Arabia Company Limited |
75 |
– |
||
Serbia |
Seco Tools SRB d.o.o. |
100 |
100 |
||
|
Sandvik Mining & Rock Technology LLC Belgrade |
– |
100 |
||
Singapore |
Walter AG Singapore Pte Ltd |
100 |
100 |
||
|
Sandvik South East Asia Ptd Ltd |
100 |
100 |
||
|
Seco Tools (SEA) Pte Ltd |
100 |
100 |
||
|
Sandvik Materials Technology Singapore Pte. Ltd. |
– |
100 |
||
|
Sandvik Mining and Construction S.E. Asia Pte Ltd |
100 |
100 |
||
Slovakia |
PRAMET Slovakia spol sro |
100 |
100 |
||
|
Walter Slovakia s.r.o. |
100 |
100 |
||
|
Seco Tools SK, s.r.o. |
100 |
100 |
||
Slovenia |
Sandvik D.o.o. |
100 |
– |
||
|
Walter Tools, d.o.o. |
100 |
100 |
||
|
Seco Tools SI d.o.o. |
100 |
100 |
||
South Africa |
Sandvik (Pty) Ltd |
100 |
100 |
||
|
Newtrax Pty. Ltd |
100 |
100 |
||
|
Sandvik Financial Services (Pty) Ltd |
100 |
100 |
||
|
Seco Tools South Africa (Pty) Ltd |
100 |
100 |
||
|
Sandvik Mining RSA (Pty) Ltd |
75 |
75 |
||
|
Sandvik Mining & Construction Delmas (Pty) Ltd |
100 |
100 |
||
Spain |
Sandvik Espanola |
100 |
100 |
||
|
Sandvik Materials Technology Spain S.L. |
– |
100 |
||
|
Walter Tools Iberica S.A.U. |
100 |
100 |
||
|
Metrologic Group Spain S.L. |
100 |
100 |
||
|
Seco Tools Espana S.A. |
100 |
100 |
||
Switzerland |
Sandvik Holding AG |
100 |
100 |
||
|
Sandvik AG |
100 |
100 |
||
|
Sandvik Materials Technology Santrade AG |
– |
100 |
||
|
Walter (Schweiz) AG |
100 |
100 |
||
|
Santrade Ltd |
100 |
100 |
||
|
Varel International Engineering Resources SA |
100 |
– |
||
|
Seco Tools AG |
100 |
100 |
||
Taiwan |
Sandvik Taiwan Ltd |
100 |
100 |
||
|
Seco Tools (S.E.A.) Taiwan Branch |
100 |
100 |
||
Tanzania |
Sandvik Mining & Construction Tanzania Limited |
98 |
98 |
||
Thailand |
Sandvik Thailand Limited |
91 |
91 |
||
|
Walter (Thailand) Co Ltd |
100 |
100 |
||
|
Seco Tools (Thailand) Co Ltd |
100 |
100 |
||
Turkey |
Walter Cutting Tools Industry and Trade LLC |
100 |
100 |
||
|
Seco Tools Kesici Takimlar Makina San.Tic.A.S. |
100 |
100 |
||
Ukraine |
LLC Seco Tools Ukraine |
100 |
100 |
||
|
Sandvik Ukraine |
100 |
100 |
||
United Arab Emirates |
Downhole Products Middle East Fze |
100 |
– |
||
United Kingdom |
Sandvik Holdings Ltd |
100 |
100 |
||
|
Sandvik Materials Limited |
100 |
100 |
||
|
Sandvik Ltd |
100 |
100 |
||
|
Walter GB Ltd |
100 |
100 |
||
|
Dormer Pramet Ltd |
100 |
100 |
||
|
BTA Heller Drilling Systems Ltd |
100 |
100 |
||
|
Inrock Ltd. (UK) |
100 |
100 |
||
|
Varel (UK) Limited |
100 |
– |
||
|
Downhole Products UK Holdco II Limited |
100 |
– |
||
|
Downhole Products UK Holdco Limited |
100 |
– |
||
|
Downhole Products Limited |
100 |
– |
||
|
Ian Hay (Engineering) Ltd |
100 |
– |
||
|
Seco Tools (UK) Limited |
100 |
100 |
||
|
Tamrock Great Britain Holdings Ltd |
100 |
100 |
||
|
Fintec Crushing and Screening Limited |
100 |
100 |
||
|
Sandvik Osprey Ltd |
100 |
100 |
||
|
CGTech Ltd. |
– |
100 |
||
USA |
Sandvik Special Metals LLC |
100 |
100 |
||
|
PennPower Inc |
100 |
100 |
||
|
Sandvik, Inc. |
100 |
100 |
||
|
Sandvik Financial Services LLC |
100 |
100 |
||
|
Walter USA LLC |
100 |
100 |
||
|
TDM Systems Inc |
100 |
100 |
||
|
Sandvik Machining Solutions USA LLC |
100 |
100 |
||
|
Dura-Mill, Inc. |
100 |
100 |
||
|
Allied Construction LLC |
20 |
100 |
||
|
Advanced Theodolite Technology, Inc. |
100 |
100 |
||
|
Metrologic Group Services, Inc. |
100 |
100 |
||
|
MG USA Properties, Inc. |
100 |
100 |
||
|
Precorp Inc |
100 |
100 |
||
|
uFab LLC |
100 |
100 |
||
|
Dormer Pramet LLC |
100 |
100 |
||
|
Varel Group |
100 |
– |
||
|
Varel International Energy Services Inc. |
100 |
– |
||
|
Varel International Holdings Inc |
100 |
– |
||
|
Valenite LLC |
100 |
100 |
||
|
Sandvik Materials Technology LLC |
100 |
100 |
||
|
Varel International Ind. LLC |
100 |
– |
||
|
Downhole Products Holdings USA Inc. |
100 |
– |
||
|
Aberdeen Products, Inc. |
100 |
– |
||
|
Varel Newtech Holdings Inc |
50 |
– |
||
|
Wetmore Tool and Engineering Company |
100 |
100 |
||
|
Artisan Vehicle Systems, Inc. |
100 |
100 |
||
|
Tamcorp Inc USA |
100 |
100 |
||
|
Thermaltek LLC |
100 |
100 |
||
|
Summerill High Precision LLC |
– |
100 |
||
|
Inrock Drilling Systems, inc. |
100 |
100 |
||
|
Inrock Acquisitions, Inc. |
100 |
100 |
||
|
Pennsylvania Extruded Tube Co. (PEXCO) |
70 |
70 |
||
|
Diamond Tool Coating, LLC |
100 |
100 |
||
|
Niagara Cutter LLC |
100 |
100 |
||
|
Seco Tools, LLC |
100 |
100 |
||
|
Sandvik Wire and Heating Technology Corporation |
100 |
100 |
||
|
Sandvik Thermal Process Inc. |
100 |
100 |
||
|
Sandvik Mining and Construction USA LLC |
100 |
100 |
||
|
Custom Electric Manufacturing LLC |
100 |
100 |
||
|
Melin Tool Company, Inc. |
100 |
100 |
||
|
Artisan Vehicle, Inc. |
100 |
100 |
||
|
CGTech |
– |
100 |
||
Vietnam |
Sandvik Vietnam Company Ltd |
100 |
100 |
||
|
Seco Tools Vietnam Co Ltd |
100 |
100 |
||
Zambia |
Sandvik Mining & Construction Zambia Limited |
100 |
100 |
||
Accounting principles
Subsidiaries
Subsidiaries are entities over which the Parent Company has a controlling influence. Controlling influence exists if the Parent Company has the power over the investee, meaning the investor has existing rights that give it the ability to direct the relevant activities, is exposed to or has the rights to variable return from its involvement in the investee and can, through its influence, affect the return from the involvement in the investee. In assessing a controlling interest, de facto control, potential voting rights that are currently exercisable or convertible are taken into account.
The financial statements of subsidiaries are included in the consolidated financial statements from the date that the controlling influence commences until the date that control ceases.
For cases in which the subsidiary’s accounting policies do not coincide with the Group’s accounting policies, adjustments were made to comply with the Group’s accounting policies.
The consolidated financial statements are prepared in accordance with the purchase method. In business combinations, acquired assets and assumed liabilities are identified and classified, and measured at fair value on the date of acquisition (also known as a purchase price allocation).
Transaction costs in conjunction with acquisitions are directly in profit or loss for the year as other operating expenses.
Contingent considerations are recognized as financial liabilities and at fair value on the acquisition date. Contingent considerations are remeasured at each reporting period with any change recognized in profit or loss for the year.
In step acquisitions, when a controlling interest is achieved, any net assets acquired earlier in the acquired units are remeasured at fair value and the result of the remeasurement is recognized in profit or loss. If the controlling interest is lost upon divestment, net profit is recognized in profit or loss. Any residual holding in the divested business is then measured at fair value on the date of divestment and its effect is recognized in profit or loss for the year.
Shares in group companies and associated companies
The Parent Company recognizes shares in group companies and associated companies in accordance with the cost model, meaning that transaction costs are included in the carrying amount of holdings in subsidiaries and associated companies. Transaction costs related to shares in group companies are recognized directly in profit or loss in the consolidated financial statements when they arise. Contingent consideration is valued based on the probability that the consideration will be paid. Any changes in the provision/receivable are added to/deducted from the cost. Contingent consideration is measured at fair value in the consolidated financial statements with changes in value recognized in profit or loss. Dividends from subsidiaries are recognized in full as income in profit or loss for the year.