Sandvik completes the acquisition of Allied Construction

SANDVIKEN, Sweden, Oct. 2, 2020 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Allied Construction Products LLC (Allied), a US distributor of hydraulic hammers to the construction and mining industries and manufacturer of compactor plates and mounting brackets.

In 2019 the company generated revenues of approximately 29 million USD with 38 employees. Sandvik was already a 21% minority shareholder of the company and Sandvik's products generated about 80% of Allied's revenues.

The deal is neutral to Sandvik's earnings per share from the start.

Stockholm, 2 October 2020

Sandvik AB

For further information, contact Emelie Alm, Investor Relations Officer, phone: +46 79 060 8717 or Martin Blomgren, Press and Media Relations Manager, phone: +46 70 577 0549.

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SOURCE Sandvik