STOCKHOLM — Sandvik has completed the previously announced acquisition of the Portugal-based company Frezite.
Frezite’s offering primarily consists of made-to-order polycrystalline diamond tools for metal and wood applications with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions.
In 2021, the company had revenues of approximately $42 million and an EBITA margin that is slightly dilutive to Sandvik Manufacturing and Machining Solutions. The impact on Sandvik’s earnings per share will be limited yet positive.