Sandvik completes the acquisition of CGTech

STOCKHOLM, Dec. 31, 2020 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of US based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification and optimization.

In 2019, CGTech had revenues of about SEK 470 million and around 180 employees. The deal will initially have a neutral impact on Sandvik's earnings per share.

CGTech will be part of Sandvik Machining Solutions' division Sandvik Coromant, within the business area Sandvik Manufacturing and Machining Solutions.

Stockholm, 31 December 2020

Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 (0) 70 782 63 74 or Edvard Bergström, Vice President Communications Relations and Productions, +46 (0) 70 993 83 11.

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SOURCE Sandvik