Sandvik to acquire German cutting tools and solutions provider Almü
April 10, 2024
Sandvik AB, headquartered in Stockholm, Sweden, has signed an agreement to acquire Almü Präzisions-Werkzeug GmbH (Almü), a Germany-based cutting tools and solutions provider within high-precision drilling, reaming, milling and tooling systems. With the acquisition of Almü, Sandvik stated it is looking to strengthen its offering towards lightweight components in the automotive segment, an area which is increasing in importance due to the shift towards electric vehicles.
“Strengthening our position within lightweight materials is one of the key priorities within Sandvik. We have had good progress and made several acquisitions in this area over the past two years, and I am very pleased that we through the acquisition of Almü continue to execute on our strategy,” stated Stefan Widing, President and CEO of Sandvik.
Almü was founded in 1978, has 44 employees, and is headquartered in Zell unter Aichelberg, Germany. The company has a strong position within the DACH region (Germany, Austria and Switzerland) and a solid customer base in the automotive segment. In 2022, the company generated revenues of around €6 million. The impact on Sandvik’s EBITA margin and earnings per share will reportedly be limited.
The transaction is expected to close during the second quarter of 2024 and is subject to customary closing conditions. Almü will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.
