Sandvik Acquires Custom Electric Manufacturing

Sandvik acquires privately owned Custom Electric Manufacturing Co., headquartered in Wixom, MI, USA. The company is a manufacturer of original equipment and replacement heating elements on the North American market.

In 2017, the company had revenues of 5.2 million USD, approximately 20 employees and a strong sales network in North America. Custom Electric Manufacturing will continue to go to market under its own brand.

The transaction was closed today, and the business will be reported as part of the Product Area Kanthal within business area Sandvik Materials Technology. The parties have agreed not to disclose the purchase price. The deal is accretive to earnings per share from the start.

For more iformation, visit Sandvik website.

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