• TOPICS
    • Design
    • Manufacturing
    • Inspection
    • Heat Treating
    • Lubrication
    • Materials
    • The Gear Industry
    • Gears by Type
  • MAGAZINE
    • Current Issue
    • Departments
    • Archives
    • Subscribe
    • Advertise
  • NEWSLETTER
    • Subscribe
  • VIDEO
    • Gear Technology TV
      • Ask the Expert Live
      • Revolutions
    • Industry Videos
  • BLOGS
  • BUYER'S GUIDE
  • NEWS and EVENTS
    • Product News
    • Industry News
    • Events
  • ADVERTISING
    • Brand Awareness
      • Print: Display Advertising
      • Online: Web Banners & Keyword Banners
      • Online: Native Advertising (Sponsored Content)
      • E-mail: Custom, White Papers & Webinars
      • E-mail: Newsletter Sponsored Content (Native Advertising)
    • Response & Lead Generation
      • Online: Sponsored Content (Native Advertising)
      • E-mail: Newsletters
      • E-mail: Newsletter Sponsored Content (Native Advertising)
      • E-mail: Custom, White Papers & Webinars
      • Online: Buyers Guide
    • Print Advertising
      • Print: Display Advertising
      • Print: IMTS Showstoppers
      • Print: Buyers Guide
      • Print: Manufacturing sMart
      • Print: Specifications
    • Online Advertising
      • Online: Web Banners & Keyword Banners
      • Online: Native Advertising (Sponsored Content)
      • Online: Buyers Guide
      • Online: Specifications
    • E-mail Advertising
      • E-mail: E-Newsletters
      • E-mail: Newsletter Sponsored Content (Native Advertising)
      • E-mail: Custom, White Papers & Webinars
      • E-mail: Specifications
    • Special Promotions
      • Print: IMTS Showstoppers
      • Print: Buyers Guide
      • Print: Manufacturing sMart
  • CONTACT US
  • AGMA
    • Membership
    • Events
    • Education
    • Emerging Technology
    • AGMA Media
    • Standards
Subscribe
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » Sandvik Coromant to Acquire ICAM

Sandvik Coromant to Acquire ICAM

December 7, 2021
Sandvik has signed an agreement to acquire Canada-based ICAM Technologies Corporation, a provider of innovative solutions that translate CAM data into optimized coding for guiding CNC machining operations. With a global reach, ICAM sells to some of the world’s most renowned companies in the Aerospace and Defense, General Engineering and Automotive industries. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions. 

"I am really happy to welcome ICAM to Sandvik Coromant and I look forward to us working together and strengthening our offer to our customers. ICAM's ability to deliver code reliability across all major CAD/CAM systems is well-aligned with our goal to serve all our customers in the best way possible, with a CAD/CAM-neutral portfolio” says Helen Blomqvist, president Sandvik Coromant.    

ICAM’s software combines post-processing, machine simulation, and tool-path optimization into solutions that save programming and part machining time, streamlining customer workflows as the user can go from their CAM system to verified and optimized coding (G-code) in just one step. ICAM’s offering is complimentary with the verification and optimization technology of CGTech, a global leader in software for numerical control (NC/CNC) simulation, verification and optimization, also owned by Sandvik and reporting into Sandvik Coromant. 

“For more than 30 years, CGTech has been a leader in simulating CNC machining, while ICAM has been a leading processing provider. ICAM and CGTech synergies will give customers a competitive advantage by reducing machining time and dependency on programming experience.  Like CGTech, ICAM is a technology leader with entrepreneurial spirit, and we have known and respected each other for years. We look forward to working with everyone on the ICAM team.” says Margaret Schmitt, president of CGTech.    
 
“I and the rest of the ICAM team are really excited about the future. For many decades ICAM and CGTech have seen the world of CAM systems, computers, operating systems, machine tools and their controls evolve exponentially. And only through hard work, focus and dedication, both companies not only kept pace with all this change but have distinguished ourselves in our respective disciplines. ICAM and CGTech continue to share the same prestigious customer base who use our products as part of the most dependable and accurate Virtual Part Manufacturing Process in all metal removal industries worldwide. On top of all this, we come from the same business culture, we have similar roots and equally have a rare tremendous depth-of-knowledge in a very complex world guaranteeing that this new relationship holds huge potential and promise for developing even greater innovations for our customers for years to come” says John Nassr owner of ICAM.   
 
ICAM was founded in 1971 in Montreal, Canada and currently has 27 employees. In 2020, the company had revenues of approximately SEK 30 million and an EBITA margin of approximately 25%. The transaction is expected to close during the fourth quarter of 2021 and is subject to customary closing conditions. 
Industry News
  • Related Articles

    Sandvik Coromant appoints two new members to its management team

    Sandvik Coromant Examines Shift to Electric Vehicles

    Sandvik Coromant Examines Sustainable Metalworking Standards

Free Gear Technology Subscriptions
Subscribe
Free Gear Technology Subscriptions
Subscribe
FEATURED VIDEO
  • Liebherr pallet
    Liebherr Palletizing Cell
June 23, 2022
RECOMMENDED
  • Grinding Slow, Grinding Fine

    June 27, 2022
    grinding-large-gear.jpg
  • Nondestructive evaluation of stresses and stress-related defects in gears

    June 27, 2022
    nondestructive-testing.jpg
  • Technology Advancements in EV Inspection

    June 27, 2022
    edrive-inspection.jpg
  • IMTS 2022 Booth Previews

    July 14, 2022
    imtsmap.jpg
  • Preview of 3D Printing at IMTS 2022

    July 14, 2022
    3d-printed-gear.jpg
  • IMTS 2022 Booth Previews

    July 14, 2022
    imtsmap.jpg
  • Preview of 3D Printing at IMTS 2022

    July 14, 2022
    3d-printed-gear.jpg
  • Grinding Slow, Grinding Fine

    June 27, 2022
    grinding-large-gear.jpg
  • Subscribe
  • Advertise
  • Contribute
  • AGMA
Powered byAGMA
Copyright © 2022 Gear Technology
  • Privacy Policy
  • Contact