Walter Acquires Melin Tool Co.
Michael Wochna will remain president of the Cleveland, Ohio, company.
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Hwacheon Machinery America, Inc.
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Walter has reached an agreement to acquire the Melin Tool Co., a privately-owned, Cleveland, Ohio company and manufacturer of solid carbide and high speed steel end mills, drills, and countersinks. Michael Wochna will remain president of Melin Tool.
The United States is a key market for Walter, and the acquisition is expected to strengthen the company’s round tool offering, especially in the aerospace industry and with the channel partner market. A stronger presence in the United States enables Walter to grow its product line with local market requirements and to improve market support with customized tooling solutions.
“The acquisition is aligned with our focus on expanding our milling business in round tools and reconditioning capabilities close to customers in the American market,” says Richard Harris, president of Walter. “I am very pleased that we have reached an agreement to acquire Melin Tool Co., as it increases our market presence and has a strong innovation focus and high service level.”
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