Sandvik completes Frezite acquisition

Sandvik has completed its acquisition of Portugal-based company Frezite.

Frezite makes bespoke polycrystalline diamond (PCD) tools for metal and wood applications in the automotive, general engineering and aerospace segments. In 2021, the company had revenues of approximately SEK 450 million.

According to Sandvik, the company will now form part of its Manufacturing and Machining Solutions division. “Impact on Sandvik’s earnings per share will be limited, yet positive,” a press release said.