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home / news releases / SDVKY - Sandvik to acquire Spanish firm Preziss

SDVKY - Sandvik to acquire Spanish firm Preziss

Sandvik AB ADR
Sandvik (OTCPK:SDVKY) said Friday it will acquire Spain-based Preziss, a cutting tools and solutions provider within high-precision drilling, reaming, milling and tooling systems. The acquisition will strengthen SDVKY's offering towards lightweight components of the automotive market. Preziss will be reported in Sandvik Coromant, a division in Sandvik Manufacturing and Machining Solutions. Preziss had revenues of ~€10M in 2021 and EBITA margin that is neutral to Sandvik Manufacturing and Machining Solutions. Impact on SDVKY's EPS will be positive but limited. The deal is expected to close during Q3.

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Sandvik to acquire Spanish firm Preziss
Stock Information
Company Name: Sandvik AB ADR
Stock Symbol: SDVKY
Market: OTC
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