Sandvik acquires esco

Sandvik has signed an agreement to acquire German-based gear manufacturing software developer esco in a deal with undisclosed terms.

The supplier is known for its creation of power skiving software; its solutions support design, production and quality inspection for gear manufacturing.

The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.

“Power skiving is a high-growth premium niche market, with strong underlying drivers such as the increasing electrification in the automotive sector,” Sandvik said. “This shift is changing manufacturing requirements in the gear market, and power skiving offers high productivity and flexibility, and enables reduced cycle times compared to conventional machining methods.”

President and CEO Stefan Widing added: “The acquisition of esco fits very well with our strategic focus to grow within key high-growth industry segments, in this case the area of gear machining for electric vehicles.”

The timeline for the deal’s close was not released.

Source: Sandvik

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