Sandvik completed the acquisition of Miranda Tools' manufacturing business.

Sandvik, an engineering company, and its division Dormer Pramet, a manufacturer of tools, completed the acquisition of the manufacturing business of Miranda Tools, a manufacturer and supplier of industrial products, from Ashok Piramal Group, a conglomerate with a presence in diverse business sectors, from textiles to real estate and engineering. Financial terms were not disclosed. "The acquisition is aligned with Sandvik Machining Solutions' focus on strengthening our round tools offer whilst also adding greater production capacity and flexibility to support long-term growth," Lars Bergström, Sandvik Machining Solutions President.