Sandvik has completed the previously announced acquisition of the entire business of the Indian company Miranda Tools, comprising the manufacture of High Speed Steel and solid carbide round tools.
In 2019, Miranda Tools had revenues of about 200 million SEK and around 580 employees. The deal has a limited impact on Sandvik’s earnings per share.
The Miranda Tools’ business will be part of Sandvik Machining Solutions’ division Dormer Pramet, within the business area Sandvik Manufacturing and Machining Solutions.
