STOCKHOLM — Sandvik on Friday completed its previously announced acquisition of the assets of Peterson Tool Company Inc. of Nashville, a leading supplier of machine-specific custom insert tooling solutions.
Peterson's 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 Sandvik Manufacturing and Machining Solutions business.
In 2021, Peterson had revenues of $9 million and an EBITA margin neutral to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik’s earnings per share will be limited, yet slightly positive.