Sandvik acquires shares in Walter AG

Sandvik has signed an agreement with the principal owners of Walter AG covering the acquisition of shares resulting in a controlling interest in the company. The transaction is subject to approval being granted by the competition authorities. Walter’s operations include tools for metalworking, software systems for tool-management and numerically controlled grinding machines. In 2000, the company had sales of approximately EUR 300 million and profit before financial items of EUR 40 million. Its head office is located in Tübingen, Germany. Markets outside Germany account for about 75% of total sales.

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