Ceratizit Acquires U.S. Carbide Cutting Tool Manufacturer.
Best Carbide Cutting Tools LLC strengthens Ceratizit’s U.S. network of distributors.
Ceratizit USA Inc. (Warren, Michigan) has signed an agreement to acquire a majority stake of Best Carbide Cutting Tools LLC, a Californian manufacturer of round carbide tools. A subsidiary of carbide specialist Ceratizit S.A. (Mamer, Luxembourg), the company’s move is intended to strengthen its distribution network in the United States, particularly for high-quality micro tools, says Jacques Lanners, co-chairmain of the Ceratizit executive board. Meanwhile, the parent company’s technology and expertise will help Best Carbide improve, says Best Carbide president Mark Nunez. He adds that becoming part of a global cutting tool organization for the first time in Best Carbide’s 37-year history will benefit stability and growth. “The agreement is a win for both companies,” he says. “Best Carbide Cutting Tools will continue to operate as it does today, but now with full support from the Ceratizit Group.”
Both companies have agreed not to disclose any financial details.
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