Sandvik boosts EV position with acquisition of esco GmbH.
Global Banking News-October 26, 2023-Sandvik boosts EV position with acquisition of esco GmbH
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High-tech engineering group Sandvik (STO:SAND) announced on Thursday that it has signed an agreement to acquire esco GmbH, a German software supplier specializing in power skiving for gear machining, boosting its presence in the electric vehicle sector.
Esco's software aids in gear manufacturing by facilitating design, production, and quality inspection processes. The company's 2022 revenues reached approximately SEK14m and will be incorporated into Sandvik Coromant, a division within Sandvik Manufacturing and Machining...
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