Sandvik completes the acquisition of Buffalo Tungsten

STOCKHOLM, Dec. 4, 2023 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Buffalo Tungsten, Inc. (BTI), a leading US based manufacturer of tungsten metal powder and tungsten carbide powder, primarily operating in North America. The company will be reported in business area segment Sandvik Machining Solutions (SMS).

BTI was established in 1987, has 48 employees and is headquartered in Depew, New York. In 2022, the company generated revenues of about SEK 333 million. The impact on Sandvik's EBITA margin will be limited. Impact on earnings per share will be accretive.

Stockholm, December 4, 2023
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