STOCKHOLM, Sweden, Oct 6, 2021 – Sandvik has acquired the Swiss based company Accuratech Group, a niched medical wire forming and component manufacturer. The product offering includes ultra-fine wires and micro-tubes, semi-finished wire components, electroplating and other products and services mainly used for the medical industry. The company will be reported in Kanthal, a division in Sandvik Materials Technology.
“I am pleased that we are continuing to execute on our shift to growth strategy. This acquisition is an important step for Sandvik Materials Technology in the preparations to become a separately listed company. With its increased focus on areas with high growth and strong earnings potential, Sandvik Materials Technology is strengthening their position for the future”, says Stefan Widing, President and CEO of Sandvik.
“The medical sector is one of Sandvik Materials Technology’s defined areas of growth, and through this acquisition we are strengthening our position by adding wire forming and component manufacturing capabilities. The geographical footprint of Accuratech will increase our ability to support our customers in EMEA”, says Göran Björkman, President of Sandvik Materials Technology.
Accuratech Group is headquartered in Burgdorf, Switzerland and conducts its business through three entities; Polyfil AG, Galvarex S.A and Polyflex s.r.l., with around 50 employees. In 2020 Accuratech Group had revenues of approximately SEK 75 million, with an EBIT margin neutral to Sandvik Materials Technology. The parties have agreed not to disclose the purchase price. Impact on Sandvik’s earnings per share will initially be neutral.
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.