Sweden-based Dormer Pramet, a division of Sandvik Machining Solutions, has announced it has acquired US-based Wetmore Tool and Engineering, a manufacturer of round tools specialized for the aerospace industry, the company said.
The parties have agreed not to disclose the purchase price and the transaction was simultaneously signed and closed. The deal is accretive to earnings per share from the start.
The acquisition expands Dormer Pramet´s range of round tools and facilitates an improved position in key aerospace markets such as the United States, United Kingdom.
Sandvik said Wetmore Tool and Engineering will add competence in application areas that complements its existing offering in round tools.