Sandvik Boosts Digital Manufacturing Presence with FASTech Acquisition
Generated by AI AgentWesley Park
Friday, Jan 3, 2025 4:24 am ET1min read
CHRO--
Sandvik, the Swedish engineering group, has bolstered its digital manufacturing capabilities with the acquisition of FASTech, a US-based reseller of Computer Aided Manufacturing (CAM) solutions in the Mastercam network. The acquisition, completed as an asset acquisition, aligns with Sandvik's strategic direction to grow in the digital manufacturing space and strengthen its regional presence in the US.
FASTech, founded in 1988, is a valued Mastercam channel partner serving customers in Ohio and eastern Kentucky. By acquiring FASTech, Sandvik gains access to its established customer base and expertise in delivering best-in-class solutions and support to manufacturers in the region. This acquisition enables Sandvik to expand its regional presence and better serve customers in the Midwest region of the US.
The acquisition of FASTech is expected to have a limited impact on Sandvik's EBITA margin and earnings per share, indicating that the primary objective is to strengthen Sandvik's position in the CAM market and expand its customer base, rather than making significant changes to its product portfolio or pricing strategy. This acquisition supports Sandvik's shift to growth strategy, which aims to achieve a 7% growth target over a business cycle.
Russ Bukowski, Interim President of Mastercam, expressed his enthusiasm about the acquisition: "Integrating FASTech into Mastercam reinforces our commitment to providing manufacturers with unmatched support and industry-leading CAD/CAM solutions. This acquisition allows us to build even closer relationships with customers in the Midwest region of the United States, ensuring their success in an evolving manufacturing landscape."
In conclusion, Sandvik's acquisition of FASTech is a strategic move that enhances the company's digital manufacturing capabilities and strengthens its regional presence in the US. By integrating FASTech's expertise and customer base, Sandvik can better serve its customers and expand its market reach in the CAM solutions space. This acquisition supports Sandvik's growth agenda and aligns with its strategic objective to grow in the digital manufacturing space.
Sandvik, the Swedish engineering group, has bolstered its digital manufacturing capabilities with the acquisition of FASTech, a US-based reseller of Computer Aided Manufacturing (CAM) solutions in the Mastercam network. The acquisition, completed as an asset acquisition, aligns with Sandvik's strategic direction to grow in the digital manufacturing space and strengthen its regional presence in the US.
FASTech, founded in 1988, is a valued Mastercam channel partner serving customers in Ohio and eastern Kentucky. By acquiring FASTech, Sandvik gains access to its established customer base and expertise in delivering best-in-class solutions and support to manufacturers in the region. This acquisition enables Sandvik to expand its regional presence and better serve customers in the Midwest region of the US.
The acquisition of FASTech is expected to have a limited impact on Sandvik's EBITA margin and earnings per share, indicating that the primary objective is to strengthen Sandvik's position in the CAM market and expand its customer base, rather than making significant changes to its product portfolio or pricing strategy. This acquisition supports Sandvik's shift to growth strategy, which aims to achieve a 7% growth target over a business cycle.
Russ Bukowski, Interim President of Mastercam, expressed his enthusiasm about the acquisition: "Integrating FASTech into Mastercam reinforces our commitment to providing manufacturers with unmatched support and industry-leading CAD/CAM solutions. This acquisition allows us to build even closer relationships with customers in the Midwest region of the United States, ensuring their success in an evolving manufacturing landscape."
In conclusion, Sandvik's acquisition of FASTech is a strategic move that enhances the company's digital manufacturing capabilities and strengthens its regional presence in the US. By integrating FASTech's expertise and customer base, Sandvik can better serve its customers and expand its market reach in the CAM solutions space. This acquisition supports Sandvik's growth agenda and aligns with its strategic objective to grow in the digital manufacturing space.
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