Sandvik completes the purchase of Preziss
Recently, Sandvik completed the acquisition of Preziss which is a Spain-based company famous for providing cutting tools and solutions for reaming, high-end drilling, and tooling systems.
This company will be working under Sandvik coromat in the category of providing machining and manufacturing solutions.
The revenue of Preziss in 2021 was 10MEUR and on EBITA margin which is neutral for Sandviks’ Manufacturing & Machining solutions as the earnings per share for Sandvik will not much nor the company will be in loss.
As the impact of earnings of Preziss will be limited on Sandvik.
Sandvik is a globally renowned company, a group of high-tech engineering providing solutions to boost the profitability, sustainability & productivity of mining, infrastructure, and machining industries. Our main focus is to optimize the processes of customers and provide them with the ultimate solution. We offer solutions for mining, machining, rock processing, advanced materials, and rock evacuations. Our company also provides tools, equipment and services. In 2021, our revenue was 99 billion SEK generated from 150 countries and we had 44,000 employees.
William Douglas has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems and world news. He also cover news from all over the world.