Seco Tools, a division within Sandvik Machining Solutions, has reached an agreement to acquire Chinese company Kunshan Ousike Precision Tools Co Ltd (OSK), which supplies solid carbide round tools. The acquisition will strengthen the company’s position in the fast growing Chinese electronics industry, Sandvik says.
‘The acquisition is aligned with Sandvik Machining Solutions’ focus on growing the round tools business,’ said Klas Forsström, president of sandvik machining solutions.
‘OSK serves customers in the electronics and die and mould industries and this is an important step for Seco to improve its position in the fast growing Chinese market,’ added Lars Bergström, President of Seco Tools.
In 2017 OSK had revenues of 120 MSEK and 90 employees.
This story is reprinted from material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.