The acquisition enhances Seco’s product offering in taps and solid threading applications and improves the presence in Poland and the growing market for round tools.
Sandvik has signed an agreement to acquire the Polish company Fabryka Narzędzi FANAR S.A. (Fanar), a manufacturer of round tools. The company will be owned by Seco, a division within the business area Sandvik Manufacturing and Machining Solutions.
“We continue to execute on our growth strategy and this acquisition is an additional step to strenghten our round tools offering” says Stefan Widing, President and CEO of Sandvik.