Sandvik AB, headquartered in Stockholm, Sweden, has announced that it has completed its acquisition of Peterson Tool Company, Inc., (PTC), Nashville, Tennessee, USA, a leading supplier of machine-specific custom insert tooling solutions. The company will be reported in the GWS Tool business unit in Walter, a division within the business area of Sandvik Manufacturing and Machining Solutions.
PTC’s product offering includes custom carbide form inserts for high-production turning and grooving applications, primarily within the general engineering and automotive segments. The company has a department dedicated to designing and manufacturing HSS, carbide tipped, and solid carbide tools.
PTC is reported to be a recognised worldwide leader in special cutting tool solutions, primarily for the automatic screw machine market, whether it be multi-spindle or single spindle. In 2021, the company reported revenues of $9 million.