Sandvik Acquires British Producer of Deep Hole Drilling Products
Sandvik has reached an agreement to acquire BTA Heller Drilling Systems Ltd., a producer and supplier of deep hole drilling (DHD) products, located in Cirencester, UK. The acquisition is expected to be completed during the first quarter of 2009, after approval by relevant anti-trust authorities.
BTA Heller Drilling Systems Ltd. offers indexable and brazed tools for drilling of deep holes in complex components and materials. Customers are mainly within aerospace, energy and primary metals. The privately owned company is known for its expertise and innovative product solutions. In 2007, BTA had sales of approximately SEK 33 M, with 12 employees.
BTA Heller Drilling Systems Ltd. will be consolidated into the business area Sandvik Tooling and become a global deep hole drilling application center of Sandvik Coromant.
The acquisition secures long-term stable ownership of BTA and offers opportunities for investments in research, product development and production of deep hole drilling tools. In turn, Sandvik Coromant will be able to strengthen the expertise and product-portfolio within deep hole drilling tools.
"The acquisition is in line with Sandvik's long-term strategy for profitable growth. Through the acquisition, we intend to further develop the global business for deep hole drilling tools and strengthen our offer within the aerospace, energy and primary metal segments, says Anders Thelin, President of Sandvik Tooling."
Anthony D Evans, Managing Director of BTA Heller Drilling Systems Ltd., will be responsible for the new Application Center.
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas - tools for metal cutting, machinery and tools for rock excavation, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. The Group had at the end of 2007 about 47,000 employees and representation in 130 countries, with annual sales of more than SEK 86,000 M.
Sandvik Coromant is the largest product area within Sandvik Tooling. Sandvik Tooling is a business area within the Sandvik Group and a global market-leading manufacturer of tools and tooling systems for cutting operations as well as of wear parts and superabrasive components. Annual sales in 2007 were about SEK 24,700 M, with
about 16,400 employees. Approximately 5% of sales are invested in R&D. Products are manufactured in cemented carbide, high-speed steel and other hard materials, such as diamond, cubic boron nitride and special ceramics.
BTA Heller Drilling Systems Ltd. is a privately owned company based in the UK with excellent knowledge and expertise in producing deep hole drilling (DHD) products. BTA offers indexable and brazed tools for drilling holes deeper than 200 mm in complex components and materials. Customers are mainly within aerospace, energy and primary metals. The company was founded in 1993; sales in 2007 were approximately SEK 33 M and the number of employees 12.
Janae Cummings
Public Relations Associate
dgs Marketing Engineers
317.813.2230 Direct
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317.813.2233 Fax
For further information, contact
Kenneth V. Sundh, President, Sandvik Coromant, +46 26 26 67 49,
or Kent Nordin, Senior Manager PR and Communications, Sandvik Coromant,+46 26 26 60 81.E-mail: kent.nordin@sandvik.com
