PR Newswire | Aug 20, 2021 05:16AM EDT

08/20 04:15 CDT

Sandvik completes the acquisition of Chuzhou Yongpu Carbide Tools Co., Ltd SANDVIKEN, Sweden, Aug. 20, 2021

SANDVIKEN, Sweden, Aug. 20, 2021 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of 67% of Chuzhou Yongpu Carbide Tools Co., Ltd, a China based premium solid round tools company, with a call option to buy the remaining part in three years' time.

The company had revenues of approximately SEK 400 million for the twelve month period Q2 2020 to Q1 2021, an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on earnings per share will initially be neutral.

The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellstrm, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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https://news.cision.com/sandvik/r/sandvik-completes-the-acquisition-of-chuzhou-yongpu-carbide-tools-co--ltd,c3400183

The following files are available for download:

https://mb.cision.com/Main/208/ Sandvik completes the acquisition of Chuzhou3400183/1456558.pdf Yongpu Carbide Tools Co., Ltd

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SOURCE Sandvik