Swedem-based steelmaker Sandvik has reached an agreement to buy powder metallurgy specialist Metso Powdermet AB from the Finnish Metso Oy group. It will become part of the Swedish group’s Sandvik Materials Technology business unit. Metso Powdermet, with sales of EUR 9.92 million and an operating margin of 18% in the last fiscal year, employs 13 people at Surahammar in Sweden, and is involved in the development and manufacture of powder metallurgy components using hot isostatic pressing technology. Components are produced in high alloy steels, as well as nickel and cobalt based alloys, primarily for the offshore and energy sectors. The acquisition is expected to be before the end of 2006, although no transaction value has yet been disclosed.
