Sandvik completes the acquisition of CGTech

Sandvik has completed the previously announced acquisition of US based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification and optimization.

In 2019, CGTech had revenues of about SEK 470 million and around 180 employees. The deal will initially have a neutral impact on Sandvik’s earnings per share.

CGTech will be part of Sandvik Machining Solutions’ division Sandvik Coromant, within the business area Sandvik Manufacturing and Machining Solutions.

Stockholm, 31 December 2020
 

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 (0) 70 782 63 74 or Edvard Bergström, Vice President Communications Relations and Productions, +46 (0) 70 993 83 11.

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Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. 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 industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2019, the Group had approximately 40,000 employees and revenues of about 100 billion SEK in more than 160 countries within continuing operations.

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