Sandvik Acquires Polish Round Tools Manufacturer Fanar

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STOCKHOLM, Sweden, Nov 3, 2021 – Sandvik has completed the previously announced acquisition of the Polish company Fabryka Narzędzi FANAR S.A. (Fanar), a manufacturer of round tools.

 

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In 2020, Fanar had revenues of about SEK 175 million. Impact on Sandvik’s earnings per share will be limited.

The company will be reported in Seco, a division within the business area Sandvik Manufacturing and Machining Solutions.

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.

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