Sandvik completes acquisition of Kunshan Ousike Precision Tools
April 10, 2019
Sandvik has completed its acquisition of Kunshan Ousike Precision Tools Co., Ltd (OSK), a supplier of solid carbide round tools based in Kunshan, Jiangsu, China. OSK will be part of the Seco Tools division of Sandvik Machining Solutions.
The acquisition is expected to strengthen Seco Tools’ position and product offering in the fast-growing Chinese electronics industry. At the time of the acquisition agreement in November 2018, Klas Forsström, President of Sandvik Machining Solutions, stated, “The acquisition is aligned with Sandvik Machining Solutions’ focus on growing the round tools business. We are already today well positioned in China but OSK will bring us even closer to customers.”
OSK was established in 2006, and in 2017 reported revenues of SEK 120 million and employed a staff of ninety. Both parties have agreed not to disclose the purchase price.