News from the Group

Sandvik has completed the previously announced acquisition of the cutting tools division of QUIMMCO CENTRO TECNOLÓGICO (QCT).

Sandvik Machining Solutions divests its 10% minority ownership in Gesac, a Chinese joint venture originally formed in 2005 to secure the supply of tungsten.

Sandvik has completed the previously announced divestment of Sandvik Drilling and Completions (Varel), meaning the operations relating to the oil and gas industry to the private equity firm Blue Water Energy and its co-investor, the privately owned Nixon Energy Investments.

Sandvik has completed the previously announced acquisition of Summerill Tube Corporation, a manufacturer of high precision tubes.

Sandvik acquires privately owned Thermaltek Inc., a manufacturer of high temperature furnace systems and metallic heating elements headquartered in North Carolina, USA.

Walter, a division within Sandvik Machining Solutions, has reached an agreement to acquire the privately owned US based company Melin Tool Company, a manufacturer of solid carbide tools.

Sandvik has signed an agreement to acquire privately owned Summerill Tube Corporation, based in Pennsylvania, USA.

Seco Tools, a division of Sandvik Machining Solutions, has reached an agreement to acquire the cutting tools division of QUIMMCO CENTRO TECNOLÓGICO (QCT), a privately owned Mexican company offering integral machining solutions.

Sandvik has signed an agreement to divest the majority of Drilling and Completions (Varel), meaning the operations relating to the oil and gas industry to the private equity firm Blue Water Energy and its co-investor, the privately owned Nixon Energy Investments. Sandvik will remain a minority owner of 30% of the company and hold a position on the board.

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.