Sandvik AB Acquires Remaining Shares in Precorp Inc., United States

Tuesday, 24 Sep 2013 03:30am EDT 

Sandvik AB announced that the Company has reached an agreement to acquire the remaining 51% of the shares in Precorp Inc., a company based in Spanish Fork, Utah, the United States. The acquisition is expected to be concluded by October 1, 2013 and Precorp Inc. will from the same date be consolidated into Sandvik Machining Solutions. Sandvik has been the minority share owner (49%) of Precorp Inc. since 2008. Precorp Inc. was founded in 1986 and offers a full line of Polycrystalline Diamond (PCD) and carbide tools including drills, reamers, end mills, port tools, and micro tools to meet the requirements of high speed machining of die cast aluminum, carbide parts and the machining of advanced composite materials as well as many other materials. Financial details were not disclosed.