Sandvik AB will invest about 200 million Swedish kronor in a new manufacturing plant for titanium and nickel fine metal powders in its Sandvik Materials Technology AB business.
The new plant will be in Sandviken, Sweden, and is expected to be operational by 2020, the group said.
The investment expands the company's metal powder offering to include "virtually all alloy groups of relevance today," said Annika Roos, head of the powder product area at Sandvik Materials Technology.
Sandvik expects titanium and nickel-based alloys in additive manufacturing to be key growth areas that will account for a "significant" share of the metal powder market.
"The metal powder segment and the additive manufacturing business are of increasingly strategic importance to us," Sandvik Materials Technology President Göran Björkman said.
As of Feb. 5, US$1 was equivalent to 7.93 Swedish kronor.
