Sandvik has acquired 95% of the shares of Ireland-based PMT Premier Machine Tools Limited (“PMT”). A well-established solutions provider with a full range of machines, equipment and services for medical customers in Ireland. The company will be reported in Seko, in Sandvik manufacturing and machining solutions.
“The acquisition of PMT fits well with our strategy to strengthen our position in the rapidly growing medical space. Together with PMT, Sandvik can offer complete machining solutions for the medical segment,” said Stefan Wieding, CEO and President of Sandvik.
PMT Through its strong partnerships, it has the ability to deliver customized machining solutions and services to its customers. Our broad portfolio of services and expertise includes a complete machining process in medical; From design to certification, expanding Seco’s offering from products to complete solutions and services.
“PMT provides additional capabilities for Sandvik to grow in the medical segment, bringing strong relationships with major medical implant manufacturers. We will be able to build on PMT’s medical machinery expertise and expand into select markets with Seko’s medical sales and application experts. Nadine Crawwells, President of Sandvik Machining Solutions, said: “We are very happy to receive the team,” he said.
PMT It was founded in 2000 and has 14 employees. By 2022, the company has recorded revenues of approximately SEK 120 million. The EBITA margin is neutral for Sandvik Manufacturing and Machining Solutions. The impact on Sandvik’s earnings will be neutral. The parties agree not to disclose the purchase price.
Stockholm, 1 February 2023
Sandvik AB
For more information, contact Louise Tjeder, Investor Relations, Tel: +46 79 060 87 17 or Johannes Hellström, Press and Media Relations Manager, Tel: +46 70 577 0549.
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