Home » Sandvik Acquires Minority Interest in UT-based Manufacturer
Sandvik Acquires Minority Interest in UT-based Manufacturer
June 16, 2008
Swedish manufacturer Sandvik Group's Tooling unit has agreed to buy 49% of Precorp Inc., Spanish Fork, UT.
Precorp is a developer, producer and supplier of polycrystalline diamond (PCD) and cemented-carbide tools for machining of advanced composite materials as well as many other materials used by the aerospace and automotive industries. In 2007, Precorp had sales of SEK 140M (US$23 million), with 140 employees.
Sandvik is a global industrial group producing tools for metal cutting, machinery and tools for rock excavation, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. The group is in 130 countries.
Sandvik Tooling is a business area within the Sandvik Group focused on tools and tooling systems for cutting operations as well as of wear parts and superabrasive components.