XANO acquires cutting machining business
XANO has today signed an agreement, via a subsidiary, to buy all the shares in AB Kuggteknik in Leksand, Sweden.
Kuggteknik works with cutting machining and has specialist expertise regarding the manufacturing of toothed products in metal. The business possesses resources for production of both prototypes and large volumes to exacting tolerances. The customers are found primarily within the tool and machinery manufacturing, medical technology, packaging industry and defence sectors. The company has 25 employees and annual sales totalling SEK 30 million.
Kuggteknik will be a part of XANO’s Precision Technology business unit and supplement existing operations at Mikroverktyg. Mikrovertyg has specialist expertise regarding precision components and transmission parts such as toothed gears, splines and racks. The company also manufactures fixtures, prototypes, tools, measuring devices and other metal components demanding high levels of precision for the automotive, aerospace and defence sectors. The acquisition of Kuggteknik brings additional technical expertise as well as access to new market segments.
Kuggteknik will be included in the consolidated results from 1 July 2019. The acquisition is expected to have a marginal effect on XANO’s earnings per share.