Sandvik completes the acquisition of PCD tools manufacturer

STOCKHOLM, Sept. 2, 2022 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of the Portugal-based company Frezite. Frezite's offering primarily consists of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions.

In 2021, the company had revenues of approximately SEK 450 million and an EBITA margin that is slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik's earnings per share will be limited, yet positive.

Stockholm, September 2, 2022

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 70 782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 70 721 1008. 

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SOURCE Sandvik