Seco Tools announced the acquisition of OSKE, opening a new chapter of high-quality development
On April 10, 2019, Seco Tools announced the acquisition of Kunshan Oske Precision Tools Co., Ltd. The press conference of "Shanco-Osco M&A Project" was successfully held in Kunshan. Fredrik Vejgården, President of Seco Tool Group, Johan Lahiri, Director of Strategic Cooperation of Seco Tools, Jean-François Martins, Managing Director of Seco China, Liu Mingyu, General Manager of OSKE, and Li Hui, Deputy Mayor of Kunshan Municipal People's Government, attended the press conference.
OSK is a leading supplier of solid carbide tools in China, and occupies a leading position in the domestic 3C industry (computer, electronics and communication) and mold industry processing. With this acquisition, Seco will strengthen its competitive position in the fast-growing Chinese market and be able to provide more optimized solutions for users in the 3C industry.
Fredrik Vejgården, President of Seco Tool Group, said: "I am honored to be able to represent Seco Tool Group and welcome OSK employees to the Seco family. The addition of OSK will help Seco expand its customer base in the Chinese market and improve its competitiveness in the 3C and tooling industries, which will also be another competitive advantage for Seco outside the automotive industry. ”
OSCO's values of "innovation, service and persistence" coincide with Seco's corporate culture, and the customer-centric service concept of both parties is also quite compatible. The two parties will work together to provide more comprehensive and efficient solutions for users in the machining industry, and create maximum value for users with better services.
Founded in 2006, OSK has 88 employees and a turnover of SEK 116 million. At present, it has 2,100 standard products and non-standard products, mainly producing round tools.
Mingyu Liu, General Manager of OSKE, said: "Seco is one of the world's leading suppliers of metal cutting tools, and we are delighted to join this team. Through the complementary advantages of both parties, I believe that OSKE will accelerate its development in the future. ”
