Metal-cutting tool manufacturer Sandvik Coromant launched a new brand identity as part of a strategic transformation of its operations.
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After almost 50 deals in January, MDM highlighted just 29 during February, which still would have been a relatively high amount during any month over the past few years.
The company appointed Sofia Sirvell as CDO for the Sandvik Group and new member of the Group Executive Management as of March 1.
The company will be reported within Seco, a division within Sandvik Manufacturing and Machining Solutions.
Sandvik Manufacturing Solutions CEO Christophe Sut will join Scanfil as its new CEO.
Nick Falgiatano, who currently serves as a regional sales manager with Sandvik Coromant, will assume his new role Dec. 1.
It marks the fifth tooling acquisition the company has announced since the start of July.
MDM reported more than two-dozen mergers and acquisitions during the month of August. Read about them all here.
Sandvik has added Sphinx Tools, which has customers primarily within the automotive, aerospace and medical segments.
Sandvik also reported second-quarter 2022 revenue of $2.6 billion, with a growth rate of 25% year-over-year.
Richard Harris is currently president of Walter, a division within Sandvik Manufacturing and Machining Solutions.
The transaction is expected to close during the third quarter of 2022 and is subject to customary closing conditions, Sandvik said.
Michael Eneberg started his role as vice president and head of global sales on May 1, and Nicolas Dellachiesa be head of M&A in June.
Beam IT is a leading provider of metal additive manufacturing services and advanced end-use components.
In 2018 Newtrax generated revenues of C$26 million (US19.4 million).
Sandviks Seco Tools division expands machining solutions business with purchase of Kunshan Ousike Precision Tools Co., Ltd.
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