Sandvik AB (publ) (OM:SAND) agreed to acquire 67% stake in Chuzhou Yongpu Carbide Tools Co., Ltd on July 28, 2021. Sandvik AB with a call option to buy the remaining stake in three years' time. Chuzhou Yongpu Carbide Tools Co., Ltd will continue to operate under its own brand. The Chuzhou Yongpu Carbide Tools Co., Ltd will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions. Chuzhou Yongpu Carbide Tools had revenues of approximately SEK 400 million for the twelve month period Q2 2020 to Q1 2021. The transaction is expected to close during the third quarter of 2021. Impact on earnings per share will initially be neutral. Sandvik AB (publ) (OM : SAND) completed the acquisition of a 67% stake in Chuzhou Yongpu Carbide Tools Co., Ltd on August 20, 2021.