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Sandvik, Stockholm, Sweden, has announced acquisitions in the U.S. and Germany.
The company has agreed to acquire the remaining 51 percent share in Precorp Inc., based in Spanish Fork, UT; Sandvik has been the minority share owner since 2008. Precorp manufacutures polycrystalline diamond and carbide tools including drills, reamers, end mills, port tools and micro tools. It serves customers worldwide, primarily within the aerospace and automotive segments. The company had 2012 sales of SEK 230 million (US$35.8 million).
Sandvik Venture has acquired the German company TechnoPartner Samtronic GmbH, a manufacturer of scattering machines and double belt presses. TPS, which had 2012 sales of €13 million (US$17.6 million), specializes in reinforced Teflon belt-based double belt press machines. The acquisition strengthens Sandvik's position in the composites segment.
Sandvik also announced new executive appointments.
Mats Backman has been appointed executive vice president and CFO of Sandvik and member of the company's group executive management. Prior to this appointment, he was vice president of finance, IT and business development for Sandvik’s machining solutions business area.
Dinggui Gao has been appointed president of Sandvik’s construction business area and a member of the group executive management. The business area specializes in equipment, tools and service for niche applications in the construction industries.