Sandvik completes the acquisition of Preziss, a solutions provider for aluminum and composite machining

Rhea-AI Summary

Sandvik has successfully completed its acquisition of Spain-based Preziss, a firm specializing in cutting tools and solutions for high-precision drilling, reaming, milling, and tooling systems. Preziss generated approximately 10 MEUR in revenue in 2021 and has an EBITA margin considered neutral to Sandvik Manufacturing and Machining Solutions. The acquisition is expected to have a limited yet positive impact on Sandvik's earnings per share, and Preziss will now operate under the Sandvik Coromant division.

Positive

• Acquisition aligns with Sandvik's strategy to enhance its product offerings in high-precision tooling.
• Preziss generated 10 MEUR in revenue in 2021, indicating a solid financial foundation.
• Expected positive contribution to Sandvik's earnings per share.

Negative

• None.

SANDVIKEN, Sweden , July 4, 2022 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of the Spain-based company Preziss, a cutting tools and solutions provider within high-precision drilling, reaming, milling and tooling systems. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

In 2021, Preziss had revenues of approximately 10 MEUR and an EBITA margin that is neutral to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik's earnings per share will be limited, yet positive.

Stockholm, July 4, 2022

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 70 782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 70 721 1008. 

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Sandvik completes the acquisition of Preziss, a solutions provider for aluminum and composite machining

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SOURCE Sandvik

FAQ

What is the significance of Sandvik's acquisition of Preziss?

The acquisition enhances Sandvik's product offerings in high-precision tooling solutions, contributing positively to future revenue growth.

How much revenue did Preziss generate in 2021?

Preziss generated approximately 10 MEUR in revenue in 2021.

What impact will the acquisition have on Sandvik's earnings per share?

The acquisition is expected to have a limited yet positive impact on Sandvik's earnings per share.

Which division will Preziss be integrated into?

Preziss will operate under the Sandvik Coromant division.