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  • Sandvik
    World Trade Center, Kungsbron 1 (section G, 6th floor), 111 22 Stockholm, Sweden
    +46 8 456 11 00
    http://home.sandvik
  • Johannes Hellström

    Press and Media Relations Manager


    +46707211008
  • Edvard Bergström

    Vice President Corporate Communication Relations and Production


    World Trade Center, Kungsbron 1 (section G, 6th floor), 111 22 Stockholm, Sweden
    +46 (0) 70 993 83 11
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    Sandvik completes the acquisition of majority stake in China-based Suzhou Ahno

    Sandvik has completed the previously announced acquisition of a majority stake in the leading China-based company Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. (Ahno) from the current majority owner, Ningbo Baosi Energy Equipment Co., Ltd and related parties. The company will be reported within the business area segment Sandvik Machining Solutions. The company was founded in 2002, has approximately 1,200 employees and is headquartered in Suzhou, China. In 2023, the company generated revenues of approximately CNY 812 million (1.2 BSEK), mainly from China. The impact on Sandvik’s

    Sandvik completes the acquisition of Almü

    Sandvik has completed the previously announced acquisition of Almü Präzisions-Werkzeug GmbH (Almü), a Germany-based cutting tools and solutions provider within high-precision drilling, reaming, milling and tooling systems. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.  Almü was founded in 1978, has 44 employees, and is headquartered in Zell unter Aichelberg, Germany. In 2022, the company generated revenues of about approximately 6 MEUR. The impact on Sandvik’s EBITA margin and earnings per share will be limited.

    Sandvik to acquire majority stake in China-based Suzhou Ahno

    Sandvik has signed an agreement to acquire a majority stake in the leading China-based company Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. (Ahno) from the current majority owner, Ningbo Baosi Energy Equipment Co., Ltd and related parties. The company will be reported within the business area segment Sandvik Machining Solutions. Ahno has a leading position in precision cutting tools in the fast-growing local premium segment, with a broad product-and service offering and extensive sales, distribution and production footprint in China. The main customer industries are general

    Sandvik has acquired precision tools manufacturer Sphinx Tools

    Sandvik has signed and completed an agreement to acquire 100% of the equity interests in the Switzerland-based Sphinx Tools Ltd and its wholly owned subsidiary P. Rieger Werkzeugfabrik AG ("Sphinx Tools"). Sphinx Tools’ offering primarily consists of precision solid round tools (micro tools) and surgical cutting tools. The customers are mainly within the automotive, aerospace and medical segments. The company will be reported within Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions. “With the acquisition of Sphinx Tools we continue to execute on our shift

    Sandvik to acquire US based custom tooling manufacturer Peterson Tool Company

    Sandvik has signed an agreement to acquire the assets of US based company Peterson Tool Company, Inc., (“PTC”) a leading supplier of machine-specific custom insert tooling solutions. The product offering includes custom carbide form inserts for high-production turning and grooving applications, primarily within the general engineering and automotive segments. The company will be reported in the GWS Tool business unit in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions. “The acquisition of Peterson Tool Company is well aligned with the shift to

    Sandvik to acquire US based round tools manufacturer GWS Tool Group

    Sandvik has signed an agreement to acquire 100% of the equity interests of the US based company GWS Tool Intermediate Holdings LLC (“GWS” or the “Company”) from its beneficial owners, L Squared Capital Partners and GWS management. GWS is an established and fast growing provider of made-to-order round tools with a large exposure to the general engineering and aerospace segments. The Company will be reported in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions. “With the acquisition of GWS, we take an important step in our shift to growth strategy

    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,

    Nadine Crauwels new member of the Sandvik Group Executive Management

    Sandvik has appointed Nadine Crauwels as new member of the Sandvik Group Executive Management as of 1 October 2020. Nadine Crauwels is since 2017 the President of Sandvik Coromant and she has prior to that had several different management positions within Sandvik Coromant since 2000. She is Belgian and holds a Master of Science in Mechanical Engineering.    The appointment is a result of an upcoming organizational change within business area Sandvik Machining Solutions, where Nadine Crauwels will be heading a new business area segment consisting of the current divisions Sandvik Coromant,

    Sandvik completes divestment of minority holding in Xiamen Golden Egret Special Alloy Co., Ltd. (Gesac)

    Sandvik Machining Solutions has completed the previously announced divestment of its 10% minority ownership in Gesac, a Chinese joint venture originally formed in 2005. The minority was divested to Xiamen Tungsten Co., Ltd., the majority owner of Gesac. Purchase price corresponds to approximately SEK 0.7 billion (CNY 0.49 billion), based on current exchange rates and a capital gain of approximately SEK 0.6 billion will be reported in Sandvik’s net financial items in the third quarter 2020.  Stockholm, 15 July 2020  Sandvik AB For further information, contact Anna Vilogorac,

    Sandvik acquires Miranda Tools’ business

    Dormer Pramet, a division within Sandvik Machining Solutions, has reached an agreement to acquire the entire business of the Indian company Miranda Tools, comprising manufacture of High Speed Steel and solid carbide round tools. “The acquisition is aligned with Sandvik Machining Solutions’ focus on strengthening our round tools offer whilst also adding greater production capacity and flexibility to support long-term growth,” says Lars Bergström, President of Sandvik Machining Solutions. The acquisition enhances Dormer Pramet’s product offering and facilitates an improved presence in

    Sandvik divests minority holding in Xiamen Golden Egret Special Alloy Co., Ltd. (Gesac)

    Sandvik Machining Solutions divests its 10% minority ownership in Gesac, a Chinese joint venture originally formed in 2005 to secure the supply of tungsten. Since then, Sandvik Machining Solutions has expanded its cutting tool recycling capabilities as well as acquired Wolfram Bergbau und Hütten in 2009, a world-leading supplier of tungsten powders. The minority holding will be divested to Xiamen Tungsten Co., Ltd., the majority owner of Gesac. Purchase price corresponds to approximately SEK 0.7 billion (CNY 0.49 billion), based on current exchange rates and upon closing a capital gain

    Sandvik acquires stake in leading Additive Manufacturing service provider

    Sandvik has acquired a 30% stake in privately owned Italian company Beam IT, a leading provider of metal Additive Manufacturing (AM) services and advanced end-use components. “The investment in Beam IT will complement our existing offer in Additive Manufacturing. It is also in line with Sandvik’s strategic ambition to become a leading solution provider for the wider component manufacturing industry,” says Lars Bergström, President of Sandvik Machining Solutions. Beam IT is a trusted supplier of metal AM end-components to demanding industries, including automotive, energy and aerospace,

    Lars Bergström appointed Acting President of Sandvik Machining Solutions

    Lars Bergström, currently Senior Strategy Advisor and Vice President Sandvik Machining Solutions, has been appointed Acting President of Sandvik Machining Solutions as of 1 July 2019. Lars Bergström will have full responsibility for the business area and he will be a member of the Sandvik Group Executive Management. “Lars Bergström is truly one of our most experienced leaders. I’m confident that he at this point is the best to manage the Sandvik Machining Solutions business area. With his understanding and engagement in the business area’s strategy and action plans I trust that he will

    Klas Forsström, President of Sandvik Machining Solutions, to leave Sandvik

    Klas Forsström, President of the business area Sandvik Machining Solutions, has decided to leave Sandvik to take on the position as President and CEO of Munters Group AB. Munters is a global leader in sustainable climate solutions for demanding industrial applications, listed on Nasdaq Stockholm. “I’m very grateful for Klas Forsström’s excellent contributions during his many years in Sandvik. He has led the Sandvik Machining Solutions business area in a successful way since 2017 and he has been a very appreciated member of the Group Executive Management. I wish him all the best in his

    Sandvik acquires US based Wetmore Tool & Engineering

    Dormer Pramet, a division within Sandvik Machining Solutions, has acquired the US based company Wetmore Tool & Engineering, a manufacturer of round tools specialized for the aerospace industry. The acquisition not only expands Dormer Pramet’s range of round tools but it also facilitates an improved position in key aerospace markets such as the United States, United Kingdom etc.   “The acquisition is aligned with Sandvik Machining Solutions’ growth strategy. Wetmore Tool & Engineering will add competence in application areas that complements our existing offering in round tools”, says

    Sandvik acquires Chinese OSK

    Seco Tools, a division within Sandvik Machining Solutions, has reached an agreement to acquire the Chinese company Kunshan Ousike Precision Tools Co., Ltd (OSK), a leading supplier of solid carbide round tools. The acquisition will particularly strengthen the position and product offering to the fast growing Chinese electronics industry. “The acquisition is aligned with Sandvik Machining Solutions’ focus on growing the round tools business. We are already today well positioned in China but OSK will bring us even closer to customers”, says Klas Forsström, President of Sandvik Machining

    Sandvik reviews additional consolidation of the manufacturing footprint

    Sandvik Machining Solutions is reviewing additional efficiency measures and as such envisages the possible closure of the manufacturing facility in Fondettes, France, whilst relocating the produced volumes to other facilities within Sandvik Machining Solutions. The planned action would generate savings at an annual run-rate of an estimated 100 million SEK. Operating profit for the fourth quarter of 2018 would be impacted by items affecting comparability of an estimated -450 million SEK, with cash flow effect of an estimated -400 million SEK. Stockholm, 13 November 2018 Sandvik AB

    Sandvik acquires US based Dura-Mill

    Sandvik Coromant, a division within Sandvik Machining Solutions, has reached an agreement to acquire the privately owned US-based company Dura-Mill Inc, a manufacturer of precision solid carbide end mills. The acquisition enhances an already strong position and product offering in North America and primarily within the Aerospace segment. “The acquisition is aligned with Sandvik Machining Solutions’ focus on growing the round tools business. Dura-Mill will add even stronger capabilities for managing customized end mills”, says Klas Forsström, President of Sandvik Machining Solutions. “

    Sandvik to acquire metrology software company Metrologic Group

    In line with its strategic agenda to broaden Sandvik Machining Solutions’ customer offering in digital manufacturing, Sandvik intends to acquire the French software company Metrologic Group from  Astorg Partners at a price of 360 million EUR, on a cash and debt free basis. Headquartered in Meylan, France, Metrologic Group is a market leader in agnostic metrology software. In its fiscal year ending in September 2017 Metrologic Group generated revenues of 43.3 million EUR with an EBITDA margin which would be accretive to that of Sandvik Machining Solutions. Metrologic Group would form a

    Sandvik appoints new head of business area Sandvik Machining Solutions

    Klas Forsström has been appointed new President for Sandvik’s business area Sandvik Machining Solutions and member of the Group Executive Management. Klas Forsström has been with the Sandvik group for approximately 25 years. He is currently the President of Sandvik Coromant, a global leading supplier of metal cutting tools, where he has worked most of his career. In addition, he has held managerial positions within other product areas such as Dormer and Sandvik Hard Materials (today Sandvik Hyperion). His work has comprised leading positions within several areas; R&D, marketing,

    President of business area Sandvik Machining Solutions, Jonas Gustavsson, to leave Sandvik

    Jonas Gustavsson, President of the business area Sandvik Machining Solutions, has decided to leave Sandvik to take on the position as President and CEO of ÅF, an engineering and consulting company listed on Nasdaq Stockholm. “I’m grateful for Jonas Gustavssons’ excellent contributions during his time in Sandvik. He has led both the Sandvik Materials Technology and the Sandvik Machining Solutions business areas and played an important role in improving and defending their performance. Jonas has also, since 2011, been a much appreciated member of the Group Executive Management”, says Björn

    Sandvik in strategic cooperation with Zhuzhou Group

    Sandvik AB (“Sandvik”) today signed a letter of intent with Zhuzhou Cemented Carbide Group Co., Ltd. (“Zhuzhou Group”) to form a joint venture for strategic cooperation. The Zhuzhou Group is the largest domestic manufacturer in China of cemented carbide and its compatible tools. It also offers smelting services for tungsten, molybdenum, tantalum, niobium and cobalt. The company is based in Zhuzhou, China, and the number of employees encompassed by the strategic cooperation is approximately 2,000. Annual sales for the part of the business concerned amount to about 1.3 billion RMB (1.4

    Employees of Sandvik Machining Solutions awarded Wilhelm Haglund Medal 2013

    Coworkers Silvia Dahlund, Jenni Zackrisson and Sakari Ruppi from Seco Tools, which is part of the Sandvik Machining Solutions business area, have been awarded the Wilhelm Haglund Medal for their development of a new generation of oxide-coated inserts. The accolade of Product Developer of the Year within the Group for 2013 was presented at Sandvik’s Annual General Meeting on 25 April in Sandviken. Cemented-carbide inserts are the most important type of tool used for metal cutting and thus crucial to Sandvik’s customer offering in the area. The new grade of insert, featuring significantly

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