Sandvik to acquire majority stake in China-based Suzhou Ahno [Yahoo! Finance]
SANDVIK AB S/ADR (SDVKY)
NASDAQ:AMEX Investor Relations:
home.sandvik/en/investors/share-price-monitor/adr-program
Company Research
Source: Yahoo! Finance
Precision Cutting Tool Technology Co., Ltd. (Ahno) from the current majority owner, Ningbo Baosi Energy Equipment Co., Ltd and related parties. The company will be reported within the business area segment Sandvik Machining Solutions. Ahno has a leading position in precision cutting tools in the fast-growing local premium segment, with a broad product-and service offering and extensive sales, distribution and production footprint in China . The main customer industries are general engineering and automotive, in which a significant part is towards electric vehicles, and with medical being a growing segment for the company. With this acquisition Sandvik Machining Solutions further strengthens its leading position within round tools. "This acquisition will strengthen our position in the strategically important Chinese market. Ahno's competitive assortment and closeness to customers is a great platform to drive further growth of our tooling business in China . Much of the offering is
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News
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- Sandvik to acquire majority stake in China-based Suzhou AhnoPR Newswire