June 22, 2021
CERATIZIT Los Angeles is now 100% owned by the Group
CERATIZIT S.A., Mamer, Luxembourg (headquarters), 22 June 2021
CERATIZIT S.A. has acquired the remaining shares in CERATIZIT Los Angeles with effect from 1 June. The company, which is part of the Austrian Plansee Group, now holds one hundred percent of the Rancho Domingo, California-based subsidiary.
The CERATIZIT Group had acquired the majority of the shares in the company, which at that time was still called Best Carbide Cutting Tools, in early 2017. Today CERATIZIT Los Angeles, together with the sites in Warren, MI, Schaumburg, IL, and Rancho Cordova, CA, forms the Group's North American production network. As part of this, the site functions as a specialist for solid carbide tools and in particular high-end micro tools and serves customers throughout the Americas.
Mirko Merlo, President, CERATIZIT Group Americas, states, “The CERATIZIT Group acquisition of the remaining shares allows us to further expand our footprint and accelerate our growth strategy in the cutting tools market, specifically in high-end micro tools. As a reliable partner and industry leader, we will continue to deliver engineering knowledge and technical proficiency to assist our customers in driving productivity.”
Both parties have agreed not to disclose any financial details of the transaction.
For over 100 years, CERATIZIT has been a pioneer in developing exceptional hard material solutions for machining and wear protection. The private company, with registered offices in Mamer, Luxembourg, develops and produces highly specialised cutting tools, indexable inserts, rods made from hard materials and wear parts. The CERATIZIT Group is the global market leader in various application segments and successfully develops new carbide, cermet and ceramic grades, such as for wood and stone working.
With more than 7,000 employees at more than 25 production facilities and a sales network with over 50 branches, CERATIZIT is a global player in the carbide industry. The company's international network includes subsidiary Stadler Metalle and joint venture CB-CERATIZIT.
The technology leader is continually investing in research and development and holds more than 1,000 patents. Innovative hard material solutions from CERATIZIT are used in various sectors, including mechanical engineering and toolmaking, in the automotive and aerospace industries and in the oil, gas and medical industries.