STOCKHOLM — Sandvik Machining Solutions (SMS), the world’s top metal cutting tools maker, is looking to build on its expertise in 3D printing and acquire industrial software firms to stay ahead of rivals and adapt to emerging challenges like the rise of the electric car.
A unit of Swedish engineering group Sandvik, it holds a fifth of the $17 billion metal cutting tools market, but the industry has stalled in recent years. SMS organic order intake has declined for seven straight quarters, hit by weak demand from manufacturing and oil and gas customers.
SMS, which contributes about two thirds of Sandvik’s operating profit, has still managed to hold operating margins above 20 percent helped by many plant closures in recent years.
Read more here.