Sandvik Completes The Acquisition Of US Based Custom Tooling Manufacturer Peterson Tool Company'

2022-07-15 10:46:24

(MENAFN- PR Newswire)

STOCKHOLM, July 15, 2022 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of 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.

In 2021 the company had revenues of 9 million USD and an EBITA margin neutral to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik's earnings per share will be limited, yet slightly positive.

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 70 782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 70 721 1008.

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Sandvik completes the acquisition of US based custom tooling manufacturer Peterson Tool Company

SOURCE Sandvik

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