Sandvik completes the acquisition of Miranda Tools’ business

Sandvik has completed the previously announced acquisition of the entire business of the Indian company Miranda Tools, comprising the manufacture of High Speed Steel and solid carbide round tools.

In 2019, Miranda Tools had revenues of about 200 million SEK and around 580 employees. The deal has a limited impact on Sandvik’s earnings per share.

The Miranda Tools’ business will be part of Sandvik Machining Solutions’ division Dormer Pramet, within the business area Sandvik Manufacturing and Machining Solutions.

Stockholm, 23 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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