Home » Sandvik Buys Technical Tooling from Federal Signal
Sandvik Buys Technical Tooling from Federal Signal
December 6, 2004
Sandvik Hard Materials has agreed to acquire Technical Tooling, Inc (TTI), Minneapolis, MN, from Federal Signal Corporation, Oak Brook, IL. TTI is a manufacturer of precision tooling for beverage cans, with annual sales of $7 million. TTI will be integrated with Sandvik Hard Materials, a product area within the Sandvik Tooling business area. The businesses and markets are unrelated to Federal Signal's other tooling businesses.
The intention is to change the TTI brand to Sandvik Hard Materials to facilitate a common global approach to the customer offering. In addition, TTI will serve as an expansion base in NAFTA for Sandvik Hard Materials' other precision ground tools, such as rotary cutters.
"Already the market leader for can tools in Europe, Sandvik will now become the leading company worldwide for these applications," says Tom Erixon, president of Sandvik Hard Materials. "At the same time, service to the global customer base will be greatly enhanced, with strong production and application capabilities, both in Europe and in the U.S."