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Sandvik Machining Solutions has decided to review the potential closure of a production plant for round tools within the Walter division in Frankfurt, Germany. Production volumes would be transferred to other units within Sandvik Machining Solutions.
Sandvik has completed the previously announced acquisition of Summerill Tube Corporation, a manufacturer of high precision tubes.
Sandvik announced on 28 October 2019 that the agreement to divest the majority of Drilling and Completions (Varel) was signed. Related to the ongoing divestment, Varel has been moved out of Sandvik Mining and Rock Technology and is instead reported in Other Operations until expected closure of
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 Materials Technology has received a large order for advanced tubes for the energy segment. The order was booked in the fourth quarter 2019 and is valued at about 550 million SEK with deliveries scheduled as from the first half of 2020.
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 will publish its fourth quarter results on Tuesday, 21 January 2020 at approximately 08.00 CET. A combined webcast and conference call for investors, analysts and financial media will be held at 10.00 CET.
In November 2020, Sandvik will arrange its Capital Markets Day in co-ordination with SKF and Volvo, including visits to Sandvik and SKF sites in Austria and onwards to Volvo in Gothenburg, Sweden.