Sandvik Materials Technology (SMT) has reported a “highly favourable” demand for its products in announcing its Q4 2006 and full year operating results. The company says that its strategic efforts to increase the share of higher added value special steel products continued successfully during Q4. It describes demand as “very strong” in key end-use sectors such as oil/gas, energy, medical, chemicals and petrochemicals. The group offered no prognosis for 2007 but SMT, with nearly 27% of Sandvik total group sales in 2006, is a major producer of alloy and stainless steel seamless tube and oil country tubular goods and will clearly continue to benefit from the high level of global oil and gas activity. SMT’s operating profit for 2006 was up by 35% year-on-year to SEK 772 million on sales of SEK 19,337 million, figures which were themselves 15% up on full year 2005.
