(Finance) – Sandvika Swedish engineering and tool giant, has acquired the assets of FASTecha US reseller of Computer Aided Manufacturing (CAM) solutions in the Mastercam network. With this acquisition, Sandvik strengthens its position in the CAM market.
“This acquisition supports our strategic direction for grow in the digital production spacestrengthens our regional presence and improves our ability to help our customers,” says Stefan Widing, CEO of Sandvik.
FASTech, founded in 1988, is headquartered in Findlay, Ohio, and serves manufacturing customers in the Midwest region of the United States. The impact on Sandvik’s EBITA margin and earnings per share will be limited. The parties have agreed not to disclose the price of purchase.