Sandvik completes the acquisition of Polish round tools company Fanar
Sandvik has finalized its acquisition of Fabryka Narzędzi FANAR S.A., a Polish manufacturer of round tools, enhancing its market presence.
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Rhea-AI Summary
Sandvik has finalized its acquisition of Fabryka Narzędzi FANAR S.A., a Polish manufacturer of round tools, enhancing its market presence. In 2020, FANAR reported revenues of approximately SEK 175 million. The financial impact on Sandvik's earnings per share is expected to be minimal. This acquisition will be integrated into Seco, a division of Sandvik's Manufacturing and Machining Solutions business area, reflecting a strategic move to strengthen product offerings and operational capabilities.
Positive
- Acquisition of FANAR expected to enhance product offerings.
- FANAR generated revenues of SEK 175 million in 2020, indicating growth potential.
Negative
- Impact on Sandvik's earnings per share is expected to be limited.
Details
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SANDVIKEN, Sweden, Nov. 2, 2021 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of the Polish company Fabryka Narzędzi FANAR S.A. (Fanar), a manufacturer of round tools.
In 2020, Fanar had revenues of about SEK 175 million. Impact on Sandvik's earnings per share will be limited.
The company will be reported in Seco, a division within the business area Sandvik Manufacturing and Machining Solutions.
Stockholm, November 2, 2021
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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SOURCE Sandvik
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