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Sandvik to Acquire Chinese Round Tools Maker

Sandvik has signed an agreement to acquire 67 percent of Chuzhou Yongpu Carbide Tools Co., Ltd, a China-based maker of solid round tools, with a call option to buy the remaining part in three years.

U.S. Cutting Tool Orders Rise on Monthly Basis in February

February 2021 U.S. cutting tool consumption totaled $149.5 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association for Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 3.3 percent from January's $144.8 million and down 17.1 percent when compared with the $180.3 million reported for February 2020.