Mori Seiki, the machine tool building company headquartered in Nagoya, Japan, has reached an agreement with the Swedish-headquartered company Sandvik to take over the business of Sandvik Tobler SAS, which is now part of the Sandvik Tooling business area. Sandvik Tobler, which has operations in Louvres, France, produces precision mandrels and clamping solutions for the automotive industry.
The transfer of the Sandvik Tobler unit to Mori Seiki is expected to take place in January 2008, subject to the appropriate approvals being obtained from the relevant antitrust authorities. The French company has 80 employees, and its sales in 2006 amounted to around €8.5 million.
The Mori Seiki Group explains that the acquisition is a reply to its European customers’ high technical requirements. Integrating Sandvik Tobler SAS into the group will enable Mori Seiki to serve those customers as a total supplier of both machine tools and work-holding components.
Link to this article：Mori Seiki to Take Over Sandvik Unit
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