Sandvik, an engineering group providing products and solutions for mining and rock excavation, completed the acquisition of the additional 60% stake in Ahno, a precision cutting tools company, from BSC, a high-precision mechanical parts producer, for CNY1.5bn. "This acquisition will strengthen our position in the strategically important Chinese market. Ahno's competitive assortment and closeness to customers is a great platform to drive further growth of our tooling business in China. Much of the offering is focused on fast growing segments, like electric vehicles, which makes Ahno a perfect fit with our strategy," Stefan Widing, Sandvik President and CEO.