Sandvik acquires workholding fixtures specialist PDQ

STOCKHOLM, June 4, 2024 /PRNewswire/ -- Sandvik has acquired PDQ Workholding LLC (PDQ), a leading US-based company specializing in custom workholding fixtures and tooling for various industries, including segments like aerospace, automotive and energy. PDQ will be reported in Walter, a division within Sandvik Manufacturing and Machining Solutions, and supports the strategy to grow in advanced machining solutions and lightweight materials.

Workholding fixtures are used to hold a workpiece in place during subtractive manufacturing and is a fundamental part of machining solutions. The acquisition of PDQ will strengthen Sandvik's offer to customers primarily in North America, enhance relationships with machine tool builders, and allow for earlier access to component projects in which both efficiency gains and the right selection of cutting tools are of importance. PDQ produces stationary, hydraulic, and automated fixtures, alongside indexable tool bodies and carbide round tools.

"The addition of PDQ will enhance our customer offer within machining solutions and strengthen growth prospects in the US, very much in line with our strategy. I am pleased to see us complete another acquisition which further improves our ability to create value for our customers and stakeholders," says Stefan Widing, President and CEO of Sandvik.

Founded in 2010, PDQ operates from two manufacturing sites, and has 107 employees. In 2023, the company reported a revenue of USD 36 million. The impact on Sandvik's EBITA margin and earnings per share will be limited.

Stockholm, June 4, 2024
Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008

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SOURCE Sandvik