Sandvik has signed an agreement to acquire a majority stake in the leading China-based company Suzhou Ahno Precision Cutting Tool Technology Co., Ltd. (Ahno) from the current majority owner, Ningbo Baosi Energy Equipment Co., Ltd and related parties. The company will be reported within the business area segment Sandvik Machining Solutions.
Ahno has a leading position in precision cutting tools in the fast-growing local premium segment, with a broad product-and service offering and extensive sales, distribution and production footprint in China.
The main customer industries are general engineering and automotive, in which a significant part is towards electric vehicles, and with medical being a growing segment for the company. With this acquisition Sandvik Machining Solutions further strengthens its leading position within round tools.
Ahno will form the basis of a new China-based division within Sandvik Machining Solutions. The new division will be established following the closing of the transaction. Sandvik’s international tooling brands will continue to be operated in China as they are today. Ahno’s strong market position, combined with Sandvik’s leading competence and international brands presence will enable an attractive growth platform in China for China going forward.