STOCKHOLM, April 9, 2024 /PRNewswire/ -- Sandvik has signed an agreement to acquire Almü Präzisions-Werkzeug GmbH (Almü), a Germany -based cutting tools and solutions provider within high-precision drilling, reaming, milling and tooling systems. With the acquisition of Almü, Sandvik will strengthen its offering towards lightweight components in the automotive segment, an area which is increasing in importance due to the shift towards electric vehicles. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.
"Strengthening our position within lightweight materials is one of the key priorities within Sandvik. We have had good progress and made several acquisitions in this area over the past two years, and I am very pleased that we through the acquisition of Almü continue to execute on our strategy," says Stefan Widing, President and CEO of Sandvik.
Almü has a strong market position within the DACH region (Germany, Austria and Switzerland) and a solid customer base in the automotive segment. Utilizing its advanced engineering competence and application knowledge for aluminum and lightweight material, Almü provides tailor-made precision tool solutions and services to the machining industry.
Almü was founded in 1978, has 44 employees, and is headquartered in Zell unter Aichelberg, Germany. In 2022, the company generated revenues of about approximately 6 MEUR. The impact on Sandvik's EBITA margin and earnings per share will be limited. The transaction is expected to close during the second quarter of 2024 and is subject to customary closing conditions. The parties have agreed not to disclose the purchase price.
Stockholm, April 9, 2024
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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SOURCE Sandvik
