Business Services Industry
Sandvik AB acquires German engineering company DEPO
Nordic Business Report, Sept 30, 2004
NORDIC BUSINESS REPORT-30 September 2004-Sandvik AB acquires German engineering company DEPO(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
The Swedish high-tech engineering group Sandvik AB said on Thursday (30 September) that it had agreed to acquire the German engineering company DEPO for an undisclosed sum.
DEPO provides complete solutions for production of dies and moulds for cars, electronics, white goods and consumables. It has 80 employees and reported sales of EUR30m in 2003.
"Acquiring DEPO offers considerable opportunities for growth and synergies. DEPO has a competitive product portfolio and valuable expertise, which will be combined with Sandvik Tooling's global sales and marketing resources," said Anders Thelin, president of Sandvik Tooling.
"Within Sandvik Tooling, DEPO can both expand business operations and increase its productivity by capitalising on the synergies offered within the business area," Thelin added.
One euro (EUR) is worth approximately 0.68 British pounds (GBP).
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