Sandvik to acquire tooling business in the US

Sandvik Hard Materials has reached an agreement with Rexam, the global consumer packaging company, to acquire the beverage can tooling business in Rexam’s North American Equipment Manufacturing Division in Chicago, US. The operation acquired by Sandvik represents an invoicing of about SEK 50 M.

As part of the agreement Sandvik and Rexam have entered into a long term contract where Sandvik will supply Rexam’s North American beverage can operation with cemented carbide can tooling and related services in North America.

The acquisition does not include employees and premises. The operation in Chicago including machinery and equipment will be transferred to Sandvik Hard Materials’ existing can tools plant in Minneapolis, US. The transfer is expected to be completed in June 2007.

"The acquisition is a further step in our strategy to establish a world leading position as supplier of high performance tooling solutions to the beverage can industry. It also complements our close partnership with Rexam which already exists in all markets outside North America," says Tom Erixon, President of Sandvik Hard Materials.

Sandviken, 8 January 2007.

Sandvik AB; (publ)

About Us

Sandvik Group Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining and construction industries; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2017, the Group had approximately 43,000 employees and sales of 91 billion SEK in more than 150 countries within continuing operations.


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