Sandvik to acquire US based round tools manufacturer GWS Tool Group
Summary
GWS is an established and fast growing provider of made-to-order round tools with a large exposure to the general engineering and aerospace segments. The Company will be reported in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions. "With the acquisition of GWS, we take an important step in our shift to growth strategy where we have a clear ambition for our machining solutions business to increase market share in round tools and to enhance our presence in the North American market", says Stefan Widing, CEO and President of Sandvik. "We are pleased to add the GWS product portfolio to our existing US offering and become a one-stop shop for round tools for our North American customers. For 2021, on a pro forma basis, the Company is expected to have revenues of approximately SEK 875 million.