Dormer Pramet, a division within Sandvik Machining Solutions, has acquired the US based company Wetmore Tool & Engineering, a manufacturer of round tools specialized for the aerospace industry. The acquisition not only expands Dormer Pramet’s range of round tools, but it also facilitates an improved position in key aerospace markets such as the United States and United Kingdom.
“The acquisition is aligned with Sandvik Machining Solutions’ growth strategy. Wetmore Tool & Engineering will add competence in application areas that complements our existing offering in round tools,” says Klas Forsström, president of Sandvik Machining Solutions.
“I am very pleased that we have acquired Wetmore Tool & Engineering as they are a leader in airframe hole making, and this acquisition enhances our position as a one-stop-shop”, says Stefan Steenstrup, president of Dormer Pramet.
In 2017, Wetmore Tool & Engineering generated revenues of about $18 million and had 170 employees.
The parties have agreed not to disclose the purchase price.