Seco Tools, a division of Sandvik Machining Solutions, has reached an agreement to acquire the cutting tools division of Quimmco Centro Tecnológico (QCT), a 20-year-old privately-owned Mexican company.
‘I am pleased that we continue to pursue the pronounced ambition to grow the solid carbide tools business,’ said Lars Bergström, president of Sandvik Machining Solutions.
According to the company, the acquisition can improve Seco Tools’ manufacturing and reconditioning capabilities in the growing Mexican market, including aerospace, automotive, energy and transportation.
In 2018, QCT’s cutting tools division generated revenues of about SEK 90 million with 130 employees.
This story uses material from Sandvik, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.