Doncasters, the international precision engineering group, has entered into an agreement to sell its Medical Technologies (DMT) division to Sandvik Materials Technology, subject to the standard regulatory approvals.
DMT specialises in producing key components used in orthopaedic implants such as knee and hip joints, including instrumentation used in surgery. The company had sales worth £34m in the year to December 2006.
‘The core focus of The Doncasters Group, particularly since our recent acquisition of North American based FastenTech, is to be a pre-eminent international supplier of performance and tolerance critical precision engineering components and fastenings, primarily in the industrial gas turbine, aerospace and speciality engineering sectors, where we are able to establish market-leading positions,’ said Eric J. Lewis, CEO of The Doncasters Group.
‘Doncasters Medical Technologies does not fit with this strategy, and we believe the combination with Sandvik’s medical materials activities will enable the full potential of the business to be achieved for the benefit of all stakeholders,’ added Lewis.
‘This transaction enables us to direct resources towards growth opportunities in our chosen markets sectors, supported by investment to enable us to provide the full breadth of product and service capability for our customers.’