SDVKY - Sandvik completes the acquisition of Chuzhou Yongpu Carbide Tools Co. Ltd

PR Newswire

SANDVIKEN, Sweden , Aug. 20, 2021 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of 67% of Chuzhou Yongpu Carbide Tools Co., Ltd, a China based premium solid round tools company, with a call option to buy the remaining part in three years' time.

The company had revenues of approximately SEK 400 million for the twelve month period Q2 2020 to Q1 2021, an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on earnings per share will initially be neutral.

The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

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.

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https://news.cision.com/sandvik/r/sandvik-completes-the-acquisition-of-chuzhou-yongpu-carbide-tools-co--ltd,c3400183

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SOURCE Sandvik