Sandvik strengthens its position in sensorised tools market with the acquisition of pro-micron GmbH

Rhea-AI Summary

Sandvik (SDVK) has signed an agreement to acquire pro-micron GmbH, a German-based supplier of sensorised tools and automation software. This acquisition aligns with Sandvik's strategic focus on high-growth industry segments, particularly sensorised tools and automation. Pro-micron's state-of-the-art offerings for diagnostics and process monitoring will help reduce production errors and increase automation for customers. The company's strong relationships with machine tool builders will also strengthen Sandvik's partnerships in the industry. With around 56 employees and headquarters in Kaufbeuren, Bavaria, Germany, pro-micron generated revenues of [insert financial figure] in 2022.

Positive

• Strategic acquisition aligns with Sandvik's focus on high-growth industry segments
• Pro-micron's offerings will reduce production errors and increase automation for customers
• Strong relationships with machine tool builders will strengthen Sandvik's partnerships

Negative

• None.

STOCKHOLM, Dec. 28, 2023 /PRNewswire/ -- Sandvik has signed an agreement to acquire pro-micron GmbH, a German-based supplier of sensorised tools and automation software. Sensorised tools is a high-growth market, with strong underlying drivers such as the accelerated shift to automated production, increasing demand of production data from our customers and closed loop manufacturing driving the need for digitalization.

Pro-micron's state-of-the-art sensorised tools offering for diagnostics and process monitoring help reduce production errors and increase automation for customers within areas like solid round tools machining.

In addition, pro-micron's long-standing relationships with machine tool builders will help strengthen and expand our partnerships with these customers. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

"The acquisition of pro-micron fits very well with our strategic focus to grow within key high-growth industry segments, in this case the area of sensorised tools and automation," says Stefan Widing, President and CEO of Sandvik.

Pro-micron, founded in 2002 has around 56 employees and is headquartered in Kaufbeuren, Bavaria, Germany. In 2022, the company generated revenues of about SEK 88 million. The impact on Sandvik's EBITA margin and earnings per share will be limited.

Stockholm, December 28, 2023
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

The following files are available for download:

https://mb.cision.com/Main/208/3900229/2515749.pdf

Sandvik strengthens its position in sensorised tools market with the acquisition of pro-micron GmbH

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SOURCE Sandvik

FAQ

What is the ticker symbol for Sandvik?

The ticker symbol for Sandvik is SDVK.

What is pro-micron GmbH's area of expertise?

Pro-micron GmbH is a supplier of sensorised tools and automation software.

Where is pro-micron GmbH headquartered?

Pro-micron GmbH is headquartered in Kaufbeuren, Bavaria, Germany.

How many employees does pro-micron GmbH have?

Pro-micron GmbH has around 56 employees.

What were pro-micron GmbH's revenues in 2022?

Pro-micron GmbH generated revenues of [insert financial figure] in 2022.