April 24, 2007

Sandvik Acquires Diamond Innovations

By Korn, Derek R

Sandvik Tooling has acquired U.S.-based Diamond Innovations Inc., formerly the superabrasives division of General Electric. Diamond Innovations develops and produces synthetic diamond and cubic boron nitride (CBN) products for industrial applications such as machining, grinding, rock drilling, wire drawing and oil and gas drilling. Diamond Innovations' headquarters and largest production facility are located in Worthington, Ohio. The company also has facilities in Florida, Ireland and Hong Kong. Tanya Fratto will continue to serve as CEO of the business.

"This acquisition complements our current offering in areas with high growth potential and our intention is to continue developing the existing business," says Anders Thelin, Sandvik Tooling's president. "It provides the potential for further development of new solutions, especially for Sandvik Mining and Construction."

For more information from Sandvik, call 201-794-5000 or visit www.sandvik.com.

Copyright Gardner Publications, Inc. Apr 2007

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