The 2020 Mid-Year Economic Update_long

Sandvik to Acquire Chinese Toolmaker

Sandviks Seco Tools division expands machining solutions business with purchase of Kunshan Ousike Precision Tools Co., Ltd.

Swedish manufacturer Sandvik, Stockholm, Sweden, said that its Seco Tools division will acquire China-based Kunshan Ousike Precision Tools Co., Ltd (OSK), a supplier of solid carbide round tools. Terms of the deal were not disclosed.

The acquisition will strengthen the company’s position and product offering in the fast-growing Chinese electronics industry, Sandvik said.

The deal is expected to close in the first half of 2019.

 

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