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Sandvik Acquires Thermaltek to Boost Position in Industrial Heating
Tuesday 14 January 2020

14 January 2020 - Sweden-based global engineering firm Sandvik has acquired North Carolina-based Thermaltek, Inc., a furnace systems and metallic heating elements manufacturer to strengthen position in industrial heating, the company said.
The transaction is closed and Thermaltek will be reported as part of the division Kanthal within business area Sandvik Materials Technology.
The parties have agreed not to disclose the purchase price. The deal is neutral to earnings per share from the start.
The acquisition strengthens the Kanthal division of Sandvik's Materials Technology, expanding the company's global offering of sustainable industrial heating.
Date Published: 14/01/2020
Target: Thermaltek, Inc
Country: USA
Sector: Machinery/Engineering
Type: Corporate acquisition
Status: Closed
Buyer: Sandvik
Terms of the deal were not disclosed