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Sandvik Dormer Pramet to acquire India’s Miranda Tools

Steel News - Published on Tue, 23 Jun 2020

Image Source: Dormer Pramet Miranda Tools
Sandvik Machining Solutions Dormer Pramet is to acquire the entire business of India-based Miranda Tools, a manufacturer of High-Speed Steel and solid carbide round tools. the parties have agreed not to disclose the purchase price. The acquisition is said to enhance Dormer Pramet’s product offering and facilitate an improved presence in key markets such as India, China and Southeast Asia.

In 2019, Miranda Tools reported revenues of approximately 200 million SEK with around 580 employees.

The transaction is expected to close during the third quarter of 2020, subject to relevant regulatory approvals.

Source :

Posted By : Yogender Pancholi on Tue, 23 Jun 2020
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