Sandvik has signed and completed an agreement to acquire 100% of the equity interests in the
"With the acquisition of Sphinx Tools we continue to execute on our shift to growth strategy. Strengthening our position in round tools is one strategic priority for our machining solutions business and with this acquisition we will expand our product portfolio in the high growth area of micro tools", says
Sphinx Tools enhances
"The acquisition of Sphinx Tools fits very well with our strategy to strengthen our position in round tools. With Sphinx Tools we will have the opportunity to take a global leading position in micro tools, a premium niche of round tools, expand our product portfolio and enter an adjacent area of surgical tools. We are very pleased to welcome Sphinx Tools to the Group", says
Sphinx Tools was founded in 1994, has around 115 employees and is based in
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Sandvik is a global high-tech engineering group offering solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. We are at the forefront of digitalization and focus on optimizing our customers' processes. Our world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation, rock processing and advanced materials. In 2021 the Group had approximately 44,000 employees and revenues of about
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