SDVKY - 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.

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Sandvik to acquire Portugal-based Frezite