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Swedish Tool Maker Acquires Minority Share In Precorp

Sandvik Tooling has reached an agreement to acquire 49 percent of the shares in Precorp Inc., based in Spanish Fork, Utah.

STOCKHOLM, Sweden -- Sandvik Tooling has reached an agreement to acquire 49 percent of the shares in the company Precorp Inc., based in Spanish Fork, Utah.

Precorp is a developer, producer and supplier of polycrystalline diamond (PCD) and cemented-carbide tools for machining of advanced composite materials as well as many other materials used mainly by the aerospace and automotive industries. In 2007, Precorp had sales of approximately U.S. $23M, with 140 employees.

The acquisition is expected to be concluded by the end of June 2008.

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