Sandvik strengthens its position in sensorised tools market with the acquisition of pro-micron GmbH

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Dec 28, 2023, 04:43 ET

STOCKHOLM, Dec. 28, 2023 /PRNewswire/ -- Sandvik has signed an agreement to acquire pro-micron GmbH, a German-based supplier of sensorised tools and automation software. Sensorised tools is a high-growth market, with strong underlying drivers such as the accelerated shift to automated production, increasing demand of production data from our customers and closed loop manufacturing driving the need for digitalization.

Pro-micron's state-of-the-art sensorised tools offering for diagnostics and process monitoring help reduce production errors and increase automation for customers within areas like solid round tools machining.

In addition, pro-micron's long-standing relationships with machine tool builders will help strengthen and expand our partnerships with these customers. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

"The acquisition of pro-micron fits very well with our strategic focus to grow within key high-growth industry segments, in this case the area of sensorised tools and automation," says Stefan Widing, President and CEO of Sandvik.

Pro-micron, founded in 2002 has around 56 employees and is headquartered in Kaufbeuren, Bavaria, Germany. In 2022, the company generated revenues of about SEK 88 million. The impact on Sandvik's EBITA margin and earnings per share will be limited.

Stockholm, December 28, 2023
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

The following files are available for download:

https://mb.cision.com/Main/208/3900229/2515749.pdf

Sandvik strengthens its position in sensorised tools market with the acquisition of pro-micron GmbH

SOURCE Sandvik