Sandvik to acquire Portugal-based Frezite

Jun. 27, 2022 3:54 AM ETSandvik AB (publ) (SDVKY), SDVKFBy: Meghavi Singh, SA News Editor
  • 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.

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