Diamond innovations, formerly the Superabrasives Division of General Electric, was bought by Littlejohn in 2000. It is a major manufacturer of synthetic diamond and cubic boron nitride (CBN) for industrial applications such as machining, oil and gas drilling, grinding, rock drilling and wire drawing.

Diamond Innovations has annual sales in excess of SEK 1 billion (S142 million approximately), and 600 employees. It’s head office and largest production unit is located in Worthing to, Ohio and there are other units in Florida, Ireland and Hong Kong. Sales are more or less split equally between the Americas, Europe and Asia.

Sandvik said that with increasing demand for improved tooling performance the acquisition of Diamond Innovations will provide a base for improving its market offering of diamond and CBN cutting tools for metalworking.

“Sandvik holds a world-leading position in advanced applications based on materials technology. Diamond and CBN are the hardest materials known and provide unique solutions for demanding wear applications,” Said Anders Thelin, head of Sanvik Tooling. “This acquisition complements our current offering in areas with high growth, and our intention is to continue developing the existing business.

“It provides the potential for further development of new solutions, especially for Sandvik Mining and Construction.”