Major Wilsonville employer sold to Swedish multinational company
One of Wilsonville's top employers, DWFritz Automation, announced this week that it is being acquired by the global manufacturing company Sandvik.
A press release indicated that the move will allow Sandvik to expand high-speed, high-volume, non-contact inspection and assembly automation. DWFritz designs and builds automotive systems and metrology products for advanced manufacturers. Sandvik is a publicly-traded company that was selling at $26.95 per share on July 14.
"By acquiring DWFritz Automation, we will be able to expand our metrology and automation offering further. This will not only strengthen our leading market position, but will also enable us to offer full metrology solutions to our customers — which will reduce cost and improve quality significantly in their broader value chain. I look forward to welcoming the DWFritz team to Sandvik," said Kim Hansen, president of Sandvik's metrology division in Sandvik, in the press release.
DWFritz has offices in France and China but its headquarters is in Wilsonville. The company was founded in 1973 by Dennis Fritz and is now run by his son Mike Fritz. It is located at a 165,000-square-foot facility on SW Boeckman Road. According to a 2018 city of Wilsonville report, DWFritz ranked 10th in town in terms of number of employees (249).
"We are truly excited with the opportunity to become part of the Sandvik family. Since our founding, we have continuously advanced the interests of our customers by being innovative and investing in new technology to help accomplish their critical missions," Mike Fritz said in the press release. "This synergy will allow us to add even more value to customers and partners, in addition to expanding our footprint across key markets through Sandvik's global presence. This agreement is a game-changer in the world of metrology and automation, and we are thrilled to be part of it."
Though the agreement has been signed, the transaction is slated to close later this year.
You count on us to stay informed and we depend on you to fund our efforts. Quality local journalism takes time and money. Please support us to protect the future of community journalism.