Sandvik Acquires 95% of PMT Shares
Sandvik, a well-known manufacturer and machining solutions provider, has acquired 95% of the shares in Irish-based PMT Premier Machine Tools Limited. PMT is a well-established solutions provider to medical customers in Ireland, offering full coverage of machines, tools, and services.
PMT Enhances Sandvik’s Medical Segment
The acquisition of PMT fits well with Sandvik’s strategy to strengthen its position in the fast-growing medical segment. PMT provides additional capabilities for Sandvik to grow in this area and bring strong relationships with key medical implant manufacturers. Together with PMT, Sandvik will be able to offer complete machining solutions to the medical industry.
PMT Brings Full Machining Solutions to Medical Segment
PMT has the ability to deliver tailored machining solutions and services to its customers due to its strong partnerships. Its broad portfolio of services and know-how encompasses the full machining process in the medical sector, from design to verification. This acquisition expands Seco’s offerings from products to full solutions and services.
PMT Joins Sandvik Group
PMT was founded in 2000 and has 14 employees. In 2022, the company generated revenues of approximately SEK 120 million. The EBITA margin is neutral to Sandvik Manufacturing and Machining Solutions. The impact on Sandvik’s earnings per share will be neutral. PMT is now a division within Sandvik Manufacturing and Machining Solutions and will be reported under Seco.
Leaders Speak on PMT Acquisition
Stefan Widing, CEO and President of Sandvik, says, “The acquisition of PMT fits well with our strategy to strengthen our position in the fast-growing area of medical.” Nadine Crauwels, President of Sandvik Machining Solutions, adds, “PMT provides additional capabilities for Sandvik to grow within the medical segment, bringing strong relationships with key manufacturers of medical implants.”
The parties have agreed not to disclose the purchase price. Sandvik is excited to welcome PMT to the group and continue providing comprehensive solutions to the medical industry.
David is a technology journalist with a passion for staying on top of the latest trends and developments in the industry. He has a degree in Computer Science and has been working as a journalist for more than 5 years. He joined Survey Paid in 2020 and his byline can be found on articles covering technology advancements, product reviews, and other technology-related news. Based in San Francisco, CA.
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