Sandvik AB, Stockholm, Sweden, has completed its previously announced acquisition of Portugal-based company Frezigest, SGPS (Frezite).
Frezite’s offerings primarily consist of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions.
With the completion of this acquisition, Sandvik anticipates that Frezite will enhance Walter’s product offering within PCD aluminium products. The company is present in Europe, Mexico and Brazil, and, with its speed-to-market capabilities, is expected to improve Walter’s value proposition and position as a manufacturer of advanced components in lightweight materials.
In 2021, Frezite had revenues of approximately SEK 450 million and an EBITA margin that is slightly dilutive to Sandvik Manufacturing and Machining Solutions. The impact on Sandvik’s earnings per share is anticipated to be limited, yet positive.