Sandvik acquires manufacturing of cemented-carbide tools in Brazil
Sandvik, through its Tooling business area, has acquired a majority interest in the Brazilian company Hurth-Infer SA's manufacturing and sales of solid-carbide tools.
The company is the leader in the field in Brazil and also has extensive service operations, including reconditioning of tools.
A new company is being formed for the acquired operations, Sandvik Hurth-Infer SA, with Sandvik Tooling holding 80% of the shares and Hurth-Infer 20%. Sandvik has an option to acquire the 20% minority interest.
Sandvik Hurth-Infer's sales amount to SEK 65 M annually, with 75 employees. The manufacture of solid-carbide tools is carried out in Sorocaba, west of Sao Paulo, and there are two service centers in the country.
"The acquisition strengthens Sandvik's position in the rapidly expanding area of solid-carbide tools and we are now increasing our competitiveness significantly in special tools, an area in which the potential is particularly substantial," says Anders Thelin, President of the Sandvik Tooling business area and President of Sandvik Coromant.
Sandviken, 16 May 2001
Sandvik AB; (publ)