Sandvik acquires Melin Tool
Walter, a division within Sandvik Machining Solutions, has acquired Melin Tool Company, a manufacturer of solid carbide and HSS end mills, drills and countersinks.
The company said the acquisition further strengthens Walter’s round tool offering, especially for the aerospace industry and the U.S. channel partner market.
“By this acquisition we will further strengthen our round tools offering which is in line with Sandvik Machining Solutions’ growth strategy,” said Lars Bergström, president of Sandvik Machining Solutions.
“I am very pleased that we have reached an agreement to acquire Melin Tool Company as it increases our market presence, and has a strong innovation focus and high service level that is aligned with Walter’s approach to doing business,” said Richard Harris, president of Walter.
In the 12-month period ending September 2019, Cleveland, Ohio-based Melin Tool Company generated revenues of $22 million and had 100 employees.
The purchase price was not disclosed. The transaction closed Dec. 31, 2019. Michael Wochna will remain as president of Melin Tool.
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