SANDVIKEN, Sweden, Oct.5, 2021 / PRNewswire / – Sandvik has acquired Swiss company Accuratech Group, a specialty manufacturer of medical wire forming and components. The product offering includes ultrafine wires and microtubes, semi-finished wire components, electroplating and other products and services mainly used for the medical industry. The company will be reported to Kanthal, a division of Sandvik Materials Technology.
“I am delighted that we are continuing to implement our transition to growth strategy. This acquisition is an important step for Sandvik Materials Technology in preparations to become a separately listed company. With its increased focus on areas with high growth and high profit potential, Sandvik Materials Technology is strengthening its position for the future, ”said Stefan Widing, President and CEO of Sandvik.
“The medical sector is one of the defined growth areas for Sandvik Materials Technology, and with this acquisition we are strengthening our position by adding wire forming and component manufacturing capabilities. Accuratech’s geographic footprint will increase our ability to support our customers in the EMEA region, ”said Göran Björkman, president of Sandvik Materials Technology.
Accuratech Group is headquartered in Burgdorf, Switzerland, and operates through three entities; Polyfil AG, Galvarex SA and Polyflex srl, with around 50 employees. In 2020, Accuratech Group achieved sales of approximately SEK 75 million, with a neutral EBIT margin for Sandvik Materials Technology. The parties have agreed not to disclose the purchase price. The impact on Sandvik’s earnings per share will initially be neutral.
For more information, contact Louise Tjeder, Vice President Investor Relations, tel. : +46 70 782 6374 or Johannes Hellström, Press and Media Relations Manager, tel. : +46 70 721 1008.
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