Metal Technology Co. Ltd., a leading metal processing company headquartered in Tokyo, Japan, has announced a share transfer agreement to acquire all the shares of Sandvik Powder Solutions AB, a subsidiary of Sandvik Group. The acquisition is scheduled to be completed by the middle of April 2020.
Sandvik Powder Solutions, located in Surahammar, Sweden, is a Powder Metallurgy business that designs, manufactures, and sells near-net shape products used primarily in the oil & gas industries. The company is reported to have a strong customer base worldwide, including in the US and Europe, as well as a high level of technological capabilities that extend from design to the completion of products. In 2018, Sandvik Powder Solutions had sales of some SEK 78.5 million (€7.2 million) and a workforce of thirty-two.
The acquisition is expected to further expand Metal Technology Co’s overseas business and improve the group’s near-net shape technologies.
“We provide integrated metal processing services centred on metallurgy technologies, primarily in heat treatment and HIP treatment. In 2010, we established a subsidiary in China to build business relationships with customers in Asia. By acquiring Sandvik Powder Solutions, we aim to expand business opportunities in Europe, Japan, and China, and to enter the Oil & Gas industry, where we excel,” stated Metal Technology Co.