SANDVİKEN, İsveç, Temmuz 28, 2021 /PRNewswire/ — Sandvik has signed an agreement to acquire 67% of Chuzhou Yongpu Carbide Tools Co., Ltd, a Çin based premium solid round tools company, with a call option to buy the remaining part in three years’ time. Chuzhou Yongpu Carbide Tools Co., Ltd is mainly focused on global and local OEMs and connected suppliers operating in Çin. Its capabilities include the full solid round tools manufacturing value chain with an offer covering blanks, cutting tools, reconditioning and coating services. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.
“The acquisition of Chuzhou Yongpu Carbide Tools Co., Ltd is part of our strategy for our machining solutions business to increase our market share and take a leading position in solid round tools, and at the same time expand further in the Asian market. We are looking forward to welcoming Chuzhou Yongpu Carbide Tools Co., Ltd to the Sandvik Group”, says Stefan Genişletme, Sandvik Başkanı ve CEO'su.
Chuzhou Yongpu Carbide Tools Co., Ltd will continue to operate under its own brand and focus on developing its offer and market share with the ambition to become a leading premium provider of solid round tools in Çin. The combined expertise and footprint of Sandvik Coromant and Chuzhou Yongpu Carbide Tools Co., Ltd will drive further geographical expansion in the region, particularly for cutting tools.
“We have long-term strategic commitment to strengthen and develop our business. Çin is a fast-growing market for solid round tools, and the acquisition of Chuzhou Yongpu Carbide Tools Co., Ltd will further strengthen our presence and enhance our offer to customers in this important region. With its premium position and strong customer focus, Chuzhou Yongpu Carbide Tools Co., Ltd is a great fit for Sandvik Machining Solutions”, says Nadine Crauwels, President of Sandvik Machining Solutions.
Chuzhou Yongpu Carbide Tools Co., Ltd is headquartered in Chuzhou, China, and has around 500 employees. It had revenues of approximately 400 milyon SEK for the twelve month period Q2 2020 to Q1 2021, an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on earnings per share will initially be neutral.
The transaction is expected to close during the third quarter of 2021.
Daha fazla bilgi için, Louise Tjeder, Başkan Yardımcısı Yatırımcı İlişkileri, telefon: +46 (0) 70782 6374 veya Johannes Hellström, Basın ve Medya İlişkileri Müdürü, telefon: +46 (0) 70721 1008.
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