Sandvik acquires Almü
Sandvik has now completed its acquisition of cutting tools and solutions provider Almü Präzisions-Werkzeug GmbH. The German company specialises in providing solutions in high-precision drilling, reaming, milling and tool systems. Almü will be reported in Sandvik Coromant, which is a division of Sandvik Manufacturing and Machining Solutions.
“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,” said Stefan Widing, President and CEO of Sandvik.
By completing the acquisition, Sandvik is hoping to strengthen its offering in lightweight components in the automotive sector. This is a particularly important area when taking into account the global shift towards electric vehicles.
About Almü
Founded in 1978, Almü boasts 44 employees with its headquarters in Zell unter Aichelberg, Germany. Almü has established itself in the automotive sector, with a strong market position in the DACH region (Germany, Austria, and Switzerland).
The cutting tools and solutions specialist generated revenues of approximately 6 MEUR in 2022. Following the acquisition, the impact on Sandvik’s EBITA margin and earnings per share is expected to be limited.