SANDVIKEN, Sweden, Sep 5, 2022 – Sandvik has completed the previously announced acquisition of the Portugal-based company Frezite. Frezite’s offering primarily consists of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions.

In 2021, the company had revenues of approximately SEK 450 million and an EBITA margin that is slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik’s earnings per share will be limited, yet positive.

Frezite, founded in 1978, has around 450 employees and is headquartered in Trofa, Portugal. In 2021, the company generated revenues of approximately SEK 450 million and is expected to grow at a mid-single digit organic growth rate in the medium term. The EBITA margin is slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik’s earnings per share will be limited, yet slightly positive. The parties have agreed not to disclose the purchase price. The transaction is expected to close during the third quarter of 2022 and is subject to customary closing conditions.

About Sandvik Group

Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2020, the Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries within continuing operations. For more information, visit https://www.home.sandvik/en.