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Highly-advanced, specialised machining tools and equipment are essential to improve energy efficiency performance and reduce waste in industrial sectors such as component manufacturing, mining and infrastructure. The development of such solutions is cost-intensive yet necessary to keep technology at the forefront, and thereby secure jobs

and the economy. The European Investment Bank (EIB) today announced that it has provided a €500 million loan to the leading machining, mining and rock processing solutions company Sandvik for research and development investments.

Stockholm-based Sandvik is a leading provider of high-precision tools, equipment, services and digital solutions in the fields of component manufacturing, mining and infrastructure. Financing of this project supports Sandvik’s R&D activities in developing new solutions and technologies in terms of equipment for mining and infrastructure, as well as tools and tooling systems for advanced industrial metal cutting. The research will be undertaken at Sandvik’s existing European research centres and will consequently help to maintain highly-skilled jobs in the industry, specifically in Sweden, Finland and Germany.