# Sandvik to acquire majority stake in Suzhou Ahno Precision Cutting Tools

Sandvik has signed an agreement to acquire a 72.4% stake in Suzhou Ahno Precision Cutting Tool Technology Co., Ltd., a Chinese precision cutting tools manufacturer with about 1,200 employees and revenues of CNY 812 million in 2023.

- Type: Acquisition
- Announced: 2024-04-23
- Where: Suzhou, China
- Status: announced
- Products: precision cutting tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Sandvik](https://endata.com/companies/6190.md) (acquirer)
- [Suzhou Ahno Precision Cutting Tool Technology Co., Ltd.](https://endata.com/companies/66072.md) (target)

## Sources

- [news.cision.com](https://news.cision.com/sandvik/r/sandvik-to-acquire-majority-stake-in-china-based-suzhou-ahno,c3966106), 2024-04-23: "This acquisition will strengthen our position in the strategically important Chinese market."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.