Jump to content

You are now visiting the Sandvik Group website in English. Would you like to switch to another language site with selected content translated?

Sandvik's acquisition of Valenite approved by authorities in US and Germany

Sandvik announced in a press release on 18 June 2002 that agreement had been reached with the American owner Milacron Inc. covering acquisition of the US tool company Valenite Inc.

The acquisition was conditional upon approval from the appropriate antitrust authorities.

The authorities in the US and Germany have now approved Sandvik's acquisition of Valenite Inc. Consequently, the conditions for implementing the purchase are fulfilled.

Valenite is a leading supplier of highly engineered metalcutting tooling solutions to the North American market. The company, with about 1,300 employees, has its head office in Madison Heights, Michigan, USA and manufacturing facilities in South Carolina, Michigan and Texas. In 2001 the company posted revenues of approximately SEK 2,000 M (USD 200 M).

The purchase price amounts to SEK 1,750 M (USD 175 M). Goodwill is preliminarily estimated at approximately SEK 1,000 M (USD 100 M). Sandvik intends to operate Valenite as a separate sector within the Sandvik Tooling business area and it will retain its own identity.

Sandviken, 29 July 2002

Sandvik AB; (publ)

We would like your consent

Sandvik and our vendors use cookies (and similar technologies) to collect and process personal data (such as device identifiers, IP addresses, and website interactions) for essential site functions, analyzing site performance, personalizing content, and delivering targeted ads. Some cookies are necessary and can’t be turned off, while others are used only if you consent. The consent-based cookies help us support Sandvik and individualize your website experience. You may accept or reject all such cookies by clicking the appropriate button below. You can also consent to cookies based on their purposes via the manage cookies link below. Visit our cookie privacy policy for more details on how we use cookies.