Articles
Sandvik acquires manufacturing of cemented-carbide tools in Brazil
May 16, 2001
A new company is being formed for the acquired operations, Sandvik Hurth-Infer SA, with Sandvik Tooling holding 80% of the shares and Hurth-Infer 20%. Sandvik has an option to acquire the 20% minority interest.
Sandvik Hurth-Infer's sales amount to SEK 65 M annually, with 75 employees. The manufacture of solid-carbide tools is carried out in Sorocaba, west of Sao Paulo, and there are two service centers in the country.
align=right border=0>"The acquisition strengthens Sandvik's position in the rapidly expanding area of solid-carbide tools and we are now increasing our competitiveness significantly in special tools, an area in which the potential is particularly substantial," says Anders Thelin, President of the Sandvik Tooling business area and President of Sandvik Coromant.
Sandvik is a high-technology engineering group with advanced products and world-leading positions in selected areas – tools for metalworking, machinery and tools for rock excavation, stainless steel, special alloys and resistance heating materials and process systems. The Group has 35,000 employees in 130 countries, with annual sales of approximately SEK 44 billion.
Sandvik Tooling is a business area within the Sandvik Group, comprising Sandvik Coromant, Sandvik CTT and Sandvik Hard Materials. Annual sales are slightly more than SEK 15,000 M with 13,000 employees. The business area is a world-leading supplier of tools and tooling systems for metalworking applications as well as of blanks and components. Products are manufactured in cemented carbide, high-speed steel and other hard materials such as diamond and special ceramics.
Sandvik Coromant Company, 1702 Nevins Road, PO Box 428, Fair Lawn, NJ 07410-0428 USA. Tel: 201-794-5000. Fax: 201-794-5165.
Source: Sandvik AB
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