Irish machine tools acquisition

Sandvik has reportedly acquired 95% of the shares in Irish based company Premier Machine Tools Limited, which supplies cutting tools to make parts for medical applications.

The company will form part of Seco, a division within Sandvik Manufacturing and Machining Solutions. 

PMT was founded in 2000 and has 14 employees. In 2022, the company generated revenues of around SEK 120 million.

“The acquisition of PMT fits well with our strategy to strengthen our position in the fast-growing area of medical,” said Stefan Widing, CEO and President of Sandvik.