Sandvik to acquire Germany-based Almü, a solutions provider for aluminum machining [Yahoo! Finance]
SANDVIK AB S/ADR (SDVKY)
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Source: Yahoo! Finance
tools and solutions provider within high-precision drilling, reaming, milling and tooling systems. With the acquisition of Almü, Sandvik will strengthen its offering towards lightweight components in the automotive segment, an area which is increasing in importance due to the shift towards electric vehicles. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions. "Strengthening our position within lightweight materials is one of the key priorities within Sandvik. We have had good progress and made several acquisitions in this area over the past two years, and I am very pleased that we through the acquisition of Almü continue to execute on our strategy," says Stefan Widing , President and CEO of Sandvik. Almü has a strong market position within the DACH region ( Germany Austria and Switzerland ) and a solid customer base in the automotive segment. Utilizing its advanced engineering competence and application knowledge for a
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