Sweden's Sandvik has agreed to buy Scottdale-based Summerill Tube Corp., a manufacturer of high precision tubes and seamless and welded tubing in stainless steels and nickel alloys to industries including aerospace, transportation and petrochemical. Terms of the deal were not disclosed.
"This is a great match for us as the capability of producing and offering stainless steel and high nickel tubes in the US market is a priority. It enables further growth in an attractive market segment", Michael Andersson, Head of Tube Divison, Sandvik Materials Technology, said in a statement.
Summerill Tube will be part of the business unit Specialized within the Tube division.
In 2018, Summerill Tube generated sales of about $11 million and has 45 employees.