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.
