SDVKF - Sandvik completes the acquisition of CGTech

PR Newswire

STOCKHOLM , Dec. 31, 2020 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of US based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification and optimization.

In 2019, CGTech had revenues of about SEK 470 million and around 180 employees. The deal will initially have a neutral impact on Sandvik's earnings per share.

CGTech will be part of Sandvik Machining Solutions' division Sandvik Coromant, within the business area Sandvik Manufacturing and Machining Solutions.

Stockholm , 31 December 2020

Sandvik AB

For further information, contact Louise Tjeder , Vice President Investor Relations, phone: +46 (0) 70 782 63 74 or Edvard Bergström, Vice President Communications Relations and Productions, +46 (0) 70 993 83 11.

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SOURCE Sandvik