Sandvik to acquire solid round tools company in China.
NORDIC BUSINESS REPORT-July 28, 2021-Sandvik to acquire solid round tools company in China
(C)2021 M2 COMMUNICATIONS http://www.m2.com
Swedish engineering company Sandvik (STO:SAND) announced on Wednesday that it has signed an agreement to acquire a majority stake in Chuzhou Yongpu Carbide Tools Co Ltd, a China-based premium solid round tools company.
Under the agreement, Sandvik will initially acquire 67% of Chuzhou Yongpu Carbide Tools and has a call option to buy the remaining part in three years' time.
The Chinese company's capabilities include the full solid round tools manufacturing value chain with an offer covering blanks, cutting tools, reconditioning and coating services. It will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining...
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