Sumitomo Electric Industries Ltd. (SEI), Osaka, Japan, has acquired both European Powder Metallurgy businesses of Sinterwerke Group; Sinterwerke Herne GmbH, Germany, and Sinterwerke Grenchen AG, Switzerland.
Together, the two Sinterwerke businesses produce a wide range of Powder Metallurgy components, primarily for the automotive and power tool markets, with customers said to include automotive Tier1 suppliers and OEMs. The two companies posted combined sales of approximately €71 million in 2018, and jointly list 400 employees at facilities in Germany and Switzerland.
Speaking on the announcement, Sinterwerke Group stated that the acquisition marks an important move towards increasing its global presence and implementing the latest production process technologies. SEI’s Powder Metal Products division operates globally, with Sumitomo Electric Sintered Alloy Ltd. headquartered in Okayama, Japan. The division provides a variety of products primarily for Japanese manufacturers of cars, automotive components and air conditioners.
SEI stated that its latest acquisitions will help to expand its sales channels to include European automakers and components manufacturers, while increasing the presence of its Powder Metallurgy products business in Europe. .