On August 8, Sandvik signed an agreement to acquire 100% of the shares of Swiss Sphinx Tools Ltd and its subsidiary P. Rieger Werkzeugfabrik AG. This is stated in the Sandvik message.
Sphinx will enter the structure of Sandvik Coromant, a division of Sandvik Manufacturing and Machining Solutions.
The financial terms of the transaction were not disclosed.
Sphinx Werkzeuge AG is a leading Swiss company producing and selling precision metalworking tools in the automotive and aerospace industries, as well as surgical cutting tools for the medical segment.
Sandvik AB is a Swedish multinational engineering company specializing in the production of metal cutting tools, digital and additive manufacturing, mining and construction, production of stainless and special steel alloys.
