SDVKY - Sandvik to acquire U.S.-based Peterson Tool custom tooling manufacturer

Sandvik (OTCPK:SDVKY) signed an agreement to acquire the assets of U.S.-based company Peterson Tool, supplier of machine-specific custom insert tooling solutions. Transaction is expected to close during Q2 or Q3 of 2022. The product offering includes custom carbide form inserts for high-production turning and grooving applications, primarily within the general engineering and automotive segments. The company will be reported in the GWS Tool business unit in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions. In 2021, PTC had revenues of $9M and an EBITA margin neutral to Sandvik Manufacturing and Machining Solutions; impact on Sandvik's EPS will be limited, yet slightly positive.

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Sandvik to acquire U.S.-based Peterson Tool, custom tooling manufacturer