It marks the fifth tooling acquisition the company has announced since the start of July.
Industrial manufacturing conglomerate Sandvik announced its latest tooling acquisition on Sept. 2 in the form of Portugal-based Frezite — a manufacturer of made-to-order polycrystalline diamond (PCD) tools for metal and wood applications, with exposure to the automotive, general engineering and aerospace segments.
Stockholm, Sweden-based Sandvik noted that Frezite had 2021 revenues of about $42 million USD. The company will be reported within Walter, a division within Sandvik Manufacturing and Machining Solutions.
It marks the fifth tooling manufacturing Sandvik since the start of July. On July 4, it acquired Preziss, a Spain-based solutions provider for aluminum and composite machining; on July 15, Sandvik announced the addition of Peterson Tool Company, Inc. (Nashville), a supplier of machine-specific custom insert tooling solutions; on Aug. 2, Sandvik announced the acquisition of a Balax, Inc. (North Lake, Wisconsin), a supplier of carbide and HSS cut taps and roll forming taps, primarily within the general engineering and automotive segments; and on Aug. 8, Sandvik said it had acquired Switzerland-based precision tools maker Sphinx Tools.
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Mike Hockett is MDM’s executive editor, having joined the publication in March 2022. He oversees MDM’s editorial content and direction, coordinates with contributing authors, conducts interviews with executives in the wholesale distribution space and serves as the editorial face of MDM at industry events. He has extensively covered the distribution and manufacturing sectors since 2014. Hockett earned a degree in print journalism from the University of Wisconsin-Eau Claire and works from his home in Madison, Wisconsin. He can be contacted at mike@mdm.com.
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