Sandvik to acquire Metso Powdermet AB
Sandvik has reached an agreement with the Finnish Metso Oy Group covering the acquisition of Metso Powdermet AB. The acquisition is expected to be completed prior to the end of 2006.Metso Powdermet AB is world leading in powder metallurgy components manufactured through so-called hot isostatic pressing (HIP-technology) into near net shape. The company develops and delivers customized components in high-alloyed steels as well as nickel and cobalt based alloys. Customers today are primarily in the offshore and energy sectors. Metso Powdermet posted sales of SEK 90 M during the past fiscal