Sandvik has signed an agreement to acquire Polish company Fabryka Narzedzi Fanar, a manufacturer of round (rotary) tools.

Fanar was established in 1966, with headquarters outside Warsaw. It has 230 employees, and its 2020 revenues were around SEK 175 million, Sandvik said. Fanar will form part of 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,’ said Stefan Widing, president and CEO of Sandvik.

This story uses material from Sandvik, with editorial changes made by Materials Today.