PR Newswire | Dec 31, 2020 03:13AM EST

12/31 02:12 CST

Sandvik completes the acquisition of CGTech STOCKHOLM, Dec. 31, 2020

STOCKHOLM, Dec. 31, 2020 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of US based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification and optimization.

In 2019, CGTech had revenues of about SEK 470 million and around 180 employees. The deal will initially have a neutral impact on Sandvik's earnings per share.

CGTech will be part of Sandvik Machining Solutions' division Sandvik Coromant, within the business area Sandvik Manufacturing and Machining Solutions.

Stockholm, 31 December 2020

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 (0) 70 782 63 74 or Edvard Bergstrm, Vice President Communications Relations and Productions, +46 (0) 70 993 83 11.

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https://mb.cision.com/Main/208/3263098/ Sandvik completes the acquisition of1355262.pdf CGTech

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SOURCE Sandvik