Sandvik to acquire Buffalo Tungsten

Sandvik has signed an agreement to acquire Buffalo Tungsten Inc (BTI), a US manufacturer of tungsten metal powder and tungsten carbide powder, primarily operating in North America.

Image: Tim/Adobe Stock.

"With the acquisition of BTI we take an important step in our strategic ambition to strengthen our presence in the North American market. BTI will enhance our regional capacity to produce tungsten powder locally in US, which will improve our competitive position," says Stefan Widing, President and CEO of Sandvik.

The integration of BTI offers synergy potential, by optimizing materials sourcing and increasing the rate of locally produced tungsten metal powder, through its facility in Depew, New York. This will complement Sandvik's already existing production of similar products at Wolfram in St Martin, Austria.

"With BTI we will be able to better meet the customer demand which will give us great opportunities in North America. BTI's contract for clean hydropower from the Niagara Power Project will also enable us to manufacture tungsten in a more sustainable way," says Nadine Crauwels, President of Sandvik Machining Solutions.

Established in 1987, BTI is headquartered in Depew, New York and employs 48 people. In 2022, the company generated revenues of about SEK333 million.