Japanese Firm Buys Sandvik Powder Solutions AB

Tokyo-based metal processing technology firm Metal Technology Co. Ltd. entered into an agreement in March to acquire the shares of Sandvik Group subsidiary Sandvik Powder Solutions AB (SPS).

Based in Sweden, SPS produces powdered metallurgy solutions, including hot isostatic pressed (HIP) products, for oil and gas customers and other industries. Metal Technology said the move will “further expand our overseas business and improve our Near-Net-Shape technologies.” The newly acquired business currently employs about 35 people. 

“We provide integrated metal processing services centered on metallurgical technologies, primarily in heat treatment and HIP treatment. In 2010, we established a subsidiary in China to build relationships with customers in Asia,” the company said in a statement. “By acquiring SPS, we aim to expand business opportunities in Europe, Japan, and China, and enter the Oil & Gas Industry, where we excel.”

The transaction is expected to close by the end of this month.

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