Husqvarna buys Sandvik’s diamond tools business

Industrial Distribution staff -- Industrial Distribution, 4/30/2008 7:18:00 AM

The former Hagby Asahi AB business, which makes diamond tools and related machines for sawing, drilling and grinding, has annual sales of about $11 million.

“Hagby has a strong market position in Sweden and Finland,” Husqvarna Construction Products head Anders Ströby said. “Synergies will be achieved with our existing operation in terms of production and distribution. In addition, Hagby’s floor-grinding machines complement our existing international product offering.”

It’s the second cutting tools acquisition for Husqvarna this month. The Stockholm-based manufacturer, which posted sales of $5.5 billion last year, agreed to acquire concrete saw manufacturer Masterpiece Engineering Co. April 9 for an undisclosed amount.