Sandvik acquires Metso Powdennet AB
18 June 2007
Sandvik has acquired Metso Powdermet AB from the Finnish Metso Oy Group. The acquisition was completed on December 29th 2006.
Metso Powdermet AB is a world leader in powder metallurgy components manufactured through Hot Isostatic Pressing (HIP-technology) into near net shape. The company develops and delivers customized components in high alloy steels, as well as nickel and cobalt based alloys.
Customers today primarily operate within the offshore and energy sectors. Metso Powdermet posted sales of SEK 90M during the past fiscal year, with an operating margin of 18%, and have 13 employees. The company has operations in Surahammar, Sweden.
Sandvik Materials Technology's previous operations in the field of powder technology include production of powder based billets at its plant in Surahammar, and high-alloy powder in Wales, UK.
The acquisition of Metso Powdermet AB, will strengthen Sandvik Materials Technology’s position in the oil and gas, energy, and medical technology segments.
"Today, Sandvik Materials Technology has leading-edge expertise in materials technology and powder production. The acquisition provides access to the complementary expertise required to capture a significant position with regard to applications development and component production of powder-based products pressed to near net shape," says Peter Gossas, President of Sandvik Materials Technology.
