Sandvik acquires Summerill Tube Corporation
09 January 2020
Sandvik has signed an agreement to acquire privately-owned Summerill Tube Corporation, based in Pennsylvania, USA. Summerill Tube Corporation is a manufacturer of high precision tubes and since 1892 it has delivered seamless and welded tubing in stainless steels and nickel alloys to various high demanding industries including aerospace, transportation and petrochemical.
Summerill Tube Corporation will be part of the business unit Specialized within the Tube division.
In 2018, Summerill Tube Corporation generated revenues of about SEK 100M, with 45 employees.
The deal has a limited impact on earnings per share from the start. The transaction is expected to close in early January 2020 and is subject to regulatory approval.