Sandvik acquires GWS for tools portfolio
Mine equipment manufacturer Sandvik has agreed to acquire US-based GWS Tool Intermediate Holdings (GWS), a provider of made-to-order round cutting tools to the general engineering industry, to improve its position in the advanced components sector. Stefan Wilding, chief executive officer and president of Sandvik, described the acquisition of GWS as “an important step” in its growth strategy in North America. The acquisition will be reported in Sandvik’s Walter division, an area of its Manufacturing and Machining Solutions segment. Financial details of the deal were not disclosed. The company explained that…
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