1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. Sandvik AB
  6. News
  7. Summary
    SAND   SE0000667891

SANDVIK AB

(SAND)
  Report
Delayed Nasdaq Stockholm  -  11:29 2022-06-23 am EDT
167.50 SEK   -4.75%
06/20Sandvik Buys Finnish Battery Management Company Akkurate
MT
06/20Sandvik acquires Finland-based Akkurate, a solutions provider of holistic battery management
AQ
06/20SANDVIK AB (OM : SAND) acquired Akkurate Oy.
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sandvik to acquire Spain-based Preziss, a solutions provider for aluminum and composite machining

05/20/2022 | 08:31am EDT

Sandvik has signed an agreement to acquire the Spain-based company Preziss, a cutting tools and solutions provider within high-precision drilling, reaming, milling and tooling systems. With the acquisition of Preziss, Sandvik will strengthen its offering towards the lightweight components of the automotive market. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

"I am very pleased that we continue to execute on our shift to growth strategy. Strengthening our position within lightweight materials is one of the key priorities within Sandvik Manufacturing and Machining Solutions," says Stefan Widing President and CEO of Sandvik.

Preziss has a global reach and sells to leading companies in the automotive industry. The company has a strong presence in Europe and in Mexico. Preziss is a full solutions provider for components machining with advanced engineering and application knowledge for lightweight products and production, as well as aftermarket service. Manufacturing in lightweight materials such as aluminum is becoming increasingly important in segments like automotive and aerospace, especially in the shift towards more sustainable transports and reduced fuel consumption.

"The acquisition of Preziss is aligned with our strategy to grow in lightweight materials and strengthen our position in the automotive aluminum segment by building a complete product and service offering. We look forward to welcoming Preziss to the Group," says Nadine Crauwels, President of Sandvik Machining Solutions. 

Preziss was founded in 1971, has 75 employees and is headquartered in Montgat in Spain. The company had revenues of approximately 10 MEUR in 2021 and an EBITA margin that is neutral to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik's earnings per share will be limited, yet positive. The transaction is expected to close during the third quarter of 2022 and is subject to customary closing conditions.   

Stockholm, May 20, 2022

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 70 782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 70 721 1008. 

----------------------------------------------------------------------------------------------------------------------------
Sandvik Group
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 99 billion SEK in about 150 countries.

https://news.cision.com/sandvik/r/sandvik-to-acquire-spain-based-preziss--a-solutions-provider-for-aluminum-and-composite-machining,c3571554

https://mb.cision.com/Main/208/3571554/1582694.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

All news about SANDVIK AB
06/20Sandvik Buys Finnish Battery Management Company Akkurate
MT
06/20Sandvik acquires Finland-based Akkurate, a solutions provider of holistic battery manag..
AQ
06/20SANDVIK AB (OM : SAND) acquired Akkurate Oy.
CI
06/17President of Sandvik Mining and Rock Solutions to leave Sandvik
AQ
06/17Sandvik AB Announces Cessation of Henrik Ager as President of Sandvik Mining and Rock S..
CI
06/17SANDVIK AB : Nomination
CO
06/15Sandvik Secures $1.1 Billion Sustainability-Linked Revolving Credit Facility
MT
06/15Sandvik signs SEK 11 billion sustainability-linked revolving credit facility
AQ
06/15Sandvik AB Signs SEK 11 Billion Sustainability-Linked Revolving Credit Facility
CI
06/13BHP open to potash partner but plans to enter fertilizer business alone
RE
More news
Analyst Recommendations on SANDVIK AB
More recommendations
Financials
Sales 2022 106 B 10 437 M 10 437 M
Net income 2022 16 199 M 1 600 M 1 600 M
Net Debt 2022 20 733 M 2 047 M 2 047 M
P/E ratio 2022 12,8x
Yield 2022 3,31%
Capitalization 210 B 20 749 M 20 749 M
EV / Sales 2022 2,18x
EV / Sales 2023 1,92x
Nbr of Employees 44 559
Free-Float 97,2%
Chart SANDVIK AB
Duration : Period :
Sandvik AB Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SANDVIK AB
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 167,50 SEK
Average target price 249,73 SEK
Spread / Average Target 49,1%
EPS Revisions
Managers and Directors
Stefan Widing President, Chief Executive Officer & Director
Cecilia Felton Chief Financial Officer & Executive Vice President
Johan Molin Chairman
Jennifer Margaret Allerton Independent Director
Claes G÷sta Boustedt Independent Director
Sector and Competitors
1st jan.Capi. (M$)
SANDVIK AB-33.69%20 749
ATLAS COPCO AB-39.71%45 269
PARKER-HANNIFIN CORPORATION-20.44%31 306
FANUC CORPORATION-13.78%29 957
FORTIVE CORPORATION-28.21%19 550
TECHTRONIC INDUSTRIES CO. LTD.-47.42%19 073