The 2020 Mid-Year Economic Update_long

Sandvik Acquires Custom Electric Manufacturing

Manufacturer expands industrial heating systems business with purchase of Michigan company.

Swedish manufacturer Sandvik, Stockholm, Sweden, has acquired privately owned Custom Electric Manufacturing Co., based in Wixom, MI. Terms of the deal were not disclosed.

Custom Electric Manufacturing makes original equipment and replacement heating elements, and had 2017 revenues of $5.2 million. The company will continue to go to market under its own brand, but will become part of Sandvik Materials Technology.

 

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