Sandvik To Acquire Us-Based Custom Tooling Manufacturer Peterson Tool Company

Sandvik has signed an agreement to acquire the assets of US based company Peterson Tool Company, Inc., ("PTC") a leading supplier of machine-specific custom insert tooling solutions. The product offering includes custom carbide form inserts for high-production turning and grooving applications, primarily within the general engineering and automotive segments. The company will be reported in the GWS Tool business unit in Walter, a division within the business area Sandvik Manufacturing and Machining Solutions.