Ceratizit S.A. has acquired Klenk GmbH & Co KG, a German manufacturer of solid carbide cutting tools.
Klenk has been making carbide cutting tools since 1959 and has 120 employees at its site in Balzheim, Germany.
The purchase is part of Ceratizit’s global acquisition strategy to reinforce it as a provider of all kinds of cutting tools. The acquisition of Klenk also furthers the company’s growth in the aerospace, automotive and medical technology industries. Over 85% of its turnover covers special tools for drilling, countersinking, reaming and milling as well as regrinding and diamond-coated tools used in the machining of carbon fiber-reinforced plastics, titanium and aluminum alloys or steels for these industries.
‘It is our aim to be perceived as a global premium player for all cutting tools,’ said Thierry Wolter, member of the executive board of Ceratizit. ‘With this acquisition we are expanding the product portfolio.’
‘Klenk is highly specialized in the aerospace sector,’ he added. ‘With this acquisition, we are investing in new know how for a worldwide growth market.’
This story is reprinted from material from Ceratizit, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.