In a statement, Sandvik said the acquisition will expand the company’s U.S. presence.

“This is a great match for us as the capability of producing and offering stainless steel and high-nickel tubes in the U.S. market is a priority. It enables further growth in an attractive market segment,” said Michael Andersson, head of the tube division for Sandvik Materials Technology.

Summerill Tube makes small-diameter seamless and welded tube for the aerospace, transportation and petrochemical industries. It has 45 employees and generated about US$10 million in revenue last year, Sandvik said. 

The deal is expected to close in early January.