Sandvik acquires privately owned
"Through this acquisition we add further strength to our leading position in industrial heating, a strategically important growth area for our Kanthal division within Sandvik Materials Technology," says Göran Björkman, President, Sandvik Materials Technology.
"This acquisition is yet another important step for Kanthal to expand its global offering of sustainable industrial heating. I am pleased to welcome all employees at Thermaltek into the Kanthal family," says
In the 12-month period ending in
The transaction is closed and Thermaltek will be reported as part of the division Kanthal within business area Sandvik Materials Technology. The parties have agreed not to disclose the purchase price. The deal is neutral to earnings per share from the start.
For further information, contact
Sandvik AB
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Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and safety. 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 2018, the Group had approximately 42,000 employees and revenues of about
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