Promax Tools is located in a 36,000 ft2 facility, employing currently about 70 people, in Rancho Cordova, California.
"Promax Tools LP gives Ceratizit an exceptional opportunity to build further on the network of both regional end user customers like the Californian aerospace industries and on nationwide top distributors,” said For Jacques Lanners, co-chairman of the Ceratizit executive board. “This acquisition is an important strategic step to further enhance the Group's position both in the United States and on a global scale."
“Ceratizit has already strong roots in the US and an important history of innovation and product quality,” sad Nancy Owens, president of Promax Tools. “The agreement is a win for both companies.”
Global strategy
In November, Ceratizit set out its plans to increase its global presence.
Financial details were not disclosed.
