Sweden-based Sandvik has announced it has agreed to acquire US-based high precisions tubes manufacturer Summerill Tube Corp., serving the aerospace, transportation and petrochemical industries, the company said.
Terms of the transaction were not disclosed. The transaction is expected to close in early January 2020 and is subject to regulatory approval.
Summerill Tube Corp. will be part of the business unit specialized within the Tube division.
In 2018, Summerill Tube Corp. generated revenues of about SEK 100m (USD 10.6m) , with 45 employees.