Sandvik has signed an agreement to acquire the German based company
"With this acquisition, Sandvik Materials Technology continues to strengthen its position by increasing its exposure to growing industries with high potential, an important step to become a well-positioned separately listed company," says
The combination of Sandvik Materials Technology and Gerling will increase the opportunities in the hydrogen refueling stations market by adding engineering know-how and capabilities. It will also accelerate the expansion of the co-created mobile tubing container solution into new markets globally, providing customers with a flexible, on-site and digitally connected platform, supporting the establishment of hydrogen refueling stations. Furthermore, through utilizing the unique capabilities within tube manufacturing technology at Gerling coupled with the medical product portfolio in SMT, a strong position within high precision tubing for medical applications will be obtained.
"We will take positions where we can capitalize on the energy transition towards more renewable energy sources. The acquisition of Gerling is giving us capabilities to accelerate growth in innovative hydrogen solutions. We already have a successful partnership with Gerling and we will continue to solve critical industry challenges together," says Göran Björkman, President of Sandvik Materials Technology.
The transaction is expected to close during the first quarter of 2022.
For further information, contact
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Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. We hold world-leading positions in selected areas - tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2020 the Group had approximately 37,000 employees and revenues of about
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