Sandvik to acquire Portugal-based Frezite

• Sandvik (OTCPK:SDVKY) to acquire 100% of the equity interests of the Portugal-based company Frezigest, SGPS.
• The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions.
• The addition enhances Walter's product offering within PCD aluminum products and improves Walter's value proposition and position as a manufacturer of advanced components in lightweight materials.
• In addition, Frezite adds adjacent revenue potential for Walter in the premium wood and composite segment.
• The EBITA margin is slightly dilutive to Sandvik Manufacturing and Machining Solutions and the impact on Sandvik's earnings per share will be limited, yet slightly positive.
• The financial terms of the deal are not disclosed.
• The deal is expected to close during the third quarter of 2022.