Göran Björkman, who serves as vice president of production at Sandvik Coromant and vice president of production strategy at Sandvik Machining Solutions, will succeed Petra Einarsson, who is leaving for a position in another industry. 

"Göran Björkman has with his extensive experience the right capabilities to lead Sandvik Materials Technology going forward," said Sandvik chief executive and president Björn Rosengren. 

"As we all know, this business area is experiencing a challenging situation. I am convinced that Göran Björkman will add the strategic, business oriented focus that the business area now requires."

Björkman, 51, has been with the company since 1990. 

Separately, the company said it has reached an agreement to sell its welding wire business to Colfax Corp.’s ESAB welding and cutting brand. Sandvik announced in May that it was putting the business up for sale. 

The deal includes the production units in Sandviken, Sweden, and Scranton, Pa., USA, as well as the global sales and product management organization. 

"We strongly believe that ESAB, with welding as its core business, is the right owner. The divestment enables us to further focus on our core operations according to Sandvik’s strategy," said Rosengren.    

Sandvik did not provide a sale price, but said the unit generated SEK470 million in revenue last year, or about US$56.2 million.