“Overall, Sandvik’s business was relatively stable in the second quarter,” said Sandvik’s president and CEO, Olof Faxander. “Demand remained at a high level in North America and improved in Asia, especially for Sandvik Machining Solutions. Activity in Europe was fragmented as the favorable development in the western parts of the continent was offset by significantly weaker market conditions in Russia. The southern hemisphere has been particularly impacted by the low level of demand in the mining industry.”