Dhanbad, May 17, 2013: As a major step towards its Corporate Social Responsibility, Sandvik Asia, the Indian subsidiary of Sandvik AB, Sweden has announced the sponsorship of a Chair Professor at the Indian School of Mines (ISM). The role of Chair professor broadly involves industry- institute interaction and R&D activities apart from regular teaching and routine academic tasks. The Chair Professor will also undertake "Sandvik Projects" including undergraduate and post-graduate assignments after consultation with ISM.

Stalwarts of the mining sector along with Sandvik Group executive management team including Sandvik President and CEO Olof Faxander attended the institution ceremony that took place at ISM Dhanbad. Shri P K Lahiri, Chairman, General Council and Executive Board, ISM was the Chief Guest of the function. Shri T K Lahiry, Chairman cum Managing Director, Bharat Coking Coal Limited (BCCL) and NCL, Dr Amalendu Sinha, Director, Central Institute of Mining and Fuel Research (CIMFR) and Shri Rahul Guha, Director-General of Mines Safety, (DGMS) were the key guests who also happen to be the distinguished alumni of ISM.

Sandvik involvement in the community is an important part of its growth strategy. Today, several community projects are in progress around the world, the core areas being education, health and environment. Speaking on this occasion, Mr Ajay Sambrani, MD, Sandvik Asia Private Limited said, "Sandvik has been in India for over 5 decades and has always remained committed in its contribution to the country's development through technology, products and people. Today we are delighted to be associated with India's premier institute in mining ISM by sponsoring a Chair Professor. I am confident that this joint initiative will enhance industry - academic interaction and expand the sphere of learning for the next generation miners."

Present on this occasion, Prof D C Panigrahi, Director, ISM said, "ISM is a premier institute in mining in the country having given the sector many stalwarts for the past eight decades. We appreciate Sandvik's initiative for sponsoring a Chair professor in our institute. New technology directed at continuous improvement is pivotal to the growth and development of the mining industry. ISM and Sandvik together can contribute towards meeting this challenge."

This initiative of technology meeting academia commenced with signing of a MoU between ISM and Sandvik. Subsequently, ISM issued an employment notice inviting nominations from Indian Nationals for Sandvik Chair Professor.

The tenure of appointment initially is for 2 years; may be extended further based on evaluation upto a maximum of 5 years or 70 years of age whichever is earlier.

The Sandvik Group is a global high technology enterprise with 50,000 employees in 130 countries. Sandvik's operations are concentrated on five core businesses: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction & Sandvik Venture - areas in which the group holds leading global positions in selected niches.