SDVKY - Sandvik acquired precision tools manufacturer Sphinx Tools

• Sandvik ( OTCPK:SDVKY ) signed and completed an agreement to acquire 100% of the equity interests in the Switzerland-based Sphinx Tools Ltd and its wholly owned subsidiary P. Rieger Werkzeugfabrik.
• The parties have agreed not to disclose the purchase price.
• In 2021, the company generated revenues of ~292 MSEK; EBITA margin is neutral to Sandvik Manufacturing and Machining Solutions and impact on Sandvik's EPS will be limited, yet slightly positive.
• Sphinx Tools' offering primarily consists of precision solid round tools and surgical cutting tools; customers are mainly within the automotive, aerospace and medical segments.
• The company will be reported within Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.
• Sphinx Tools enhances Sandvik Coromant's product offering within solid round tools and is an established player in the adjacent surgical cutting tools market.

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