Sandvik to Purchase Valenite from Milacron

Sandvik have just entered into a deal with Milacron to buy their metal cutting tool business, Valenite. The purchase will cost Sandvik $175million in cash and will allow Milacron to concentrate on their plastics and industrial fluids businesses.

Under the new ownership, Valenite will operate as a separate company under the Sandvik Tools umbrella, and will continue to run their own sales and marketing efforts.

Valenite service the North American market and have a head office in Michigan. They also have manufacturing operations in Michigan, Texas and South Carolina. They operate their own R&D operations and currently have approximately 1300 staff.

For more information on cutting tools, click here.

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