Sandvik AB, Sweden, announces that in January it acquired privately owned Thermaltek Inc., a manufacturer of high temperature furnace systems and metallic heating elements headquartered in North Carolina; and Melin Tool Company, a manufacturer of solid carbide tools in Cleveland.
“Through the Thermaltek acquisition we add further strength to our leading position in industrial heating, a strategically important growth area for our Kanthal division within Sandvik Materials Technology,” says Göran Björkman, President, Sandvik Materials Technology.
“This acquisition is yet another important step for Kanthal to expand its global offering of sustainable industrial heating. I am pleased to welcome all employees at Thermaltek into the Kanthal family,” says Nicklas Nilsson, Vice President, Kanthal.
Melin Tool Company was acquired by Walter, a division within Sandvik Machining Solutions that has reached an agreement to acquire the privately owned company. The acquisition further strengthens Walter’s round tool offering, especially for the aerospace industry and the U.S. channel partner market.
“By this acquisition we will further strengthen our round tools offering, which is in line with Sandvik Machining Solutions’ growth strategy,” says Lars Bergström, President of Sandvik Machining Solutions.
“I am very pleased that we have reached an agreement to acquire Melin Tool Company as it increases our market presence, and has a strong innovation focus and high service level that is aligned with Walter’s approach to doing business,” says Richard Harris, President of Walter.
