Prometec GmbH becomes part of Sandvik Coromant

Fair Lawn, New Jersey – Prometec is a leading supplier of advanced solutions for monitoring and control of machining processes in production machines. The company also supplies equipment for laser beam diagnostics and primarily operates in the European and North American market. Prometec has 35 employees and had in the fiscal year 2014/2015 sales of approximately 48 MSEK. The acquisition includes all shares in Prometec GmbH.

Prometec will be integrated with Sandvik Coromant, a Product Area within Sandvik Machining Solutions. The acquisition of Prometec is a step forward in Sandvik Machining Solutions’ focus on digital solutions and to further drive the development of digital offerings to customers and add value to the customers' value chain.

New Managing Director for Prometec GmbH is Dr. Klaus Christoffel, previously manager product management & design for Sandvik Coromant in Germany explains that, "The acquisition is a natural step in line with the Sandvik Coromant long-term strategy to develop attractive solutions in the field of digital manufacturing, also called Industry 4.0. In this area, we want to offer our customers monitoring solutions that support both, the planning and the control of production. Sandvik Coromant already has a product offering within Digital Manufacturing and by the acquisition of Prometec, we can offer our customers new opportunities for providing solutions across the value chain.”

“The acquisition of Prometec has great importance for several reasons: Prometec adds an important skill set in the field of digital manufacturing and, together with Sandvik Coromant, opens new business opportunities for an expansion in this area," says Klas Forsström, president of Sandvik Coromant.

“This acquisition will constitute a solid base for continued growth, from which also our customers worldwide will benefit. Thus, Prometec secures a further competitive advantage,” says Dr. Werner Kluft, founder and previous sole shareholder of Prometec GmbH.

Source: Sandvik Coromant