Sandvik becomes sole owner of wire drawing mill in Brazil
Sandvik has acquired the remaining 50% of the shares in Sandvik Villares Wire Ltda in Brazil from its partner Acos Villares.
As a result of the acquisition, Sandvik becomes the sole owner of the drawing mill in Mogi-Gaucu, which produces a wide range of stainless and high-alloy wire. The company has sales of about SEK 160 m. (USD 25 m.) and slightly more than 100 employees.
Sandvik Villares Wire was formed in 1993 through the merger of Sandvik's and Villares' drawing mill operations and subsequent expansion and modernization. In March this year, the drawing mill of the Brazilian company Eletrometal was also acquired.
After the restructuring that is now completed, Sandvik is the owner of Latin America's leading drawing mill operations for stainless steel. The drawing mill is part of Sandvik's integrated, global organization which includes drawing mills in Sweden, Spain and the U.S.
"The acquisition will further strengthen Sandvik's position as the leading manufacturer and supplier of stainless cold-drawn products," says Åke Axelson, manager of Sandvik Steel's Wire Division.
Sandviken, 20 May 1996
Sandvik AB Group Information