Press release
CERATIZIT Group acquires majority share of Best Carbide Cutting Tools, LLC
CERATIZIT Group acquires majority share of Best Carbide Cutting Tools, LLC
CERATIZIT announces that its wholly-owned subsidiary CERATIZIT USA, Inc. has signed an agreement to acquire a majority stake of the Californian solid carbide round cutting tool manufacturer Best Carbide Cutting Tools, LLC.
Jacques Lanners, Co-Chairman of the CERATIZIT Executive Board: “Best Carbide Cutting Tools gives CERATIZIT an exceptional chance to strengthen our network in the USA and build on nationwide top distributors. Best Carbide is known for the quality of its tools, with a strong focus on high-end micro tools.”
Mark Nunez, President of Best Carbide: “Through this partnership, Best Carbide will have access to CERATIZIT technologies and expertise that will help the company to improve its manufacturing process, technical capabilities and quality of tooling – with the goal of ultimately adding greater value for our customers. For the first time in its 37-year history, Best Carbide becomes part of a global cutting tool organization. We believe this will have substantial benefit for Best Carbide’s stability, growth and advancement. The agreement is a win for both companies. Best Carbide Cutting Tools will continue to operate as it does today, but now with full support from the CERATIZIT Group.”
Both private companies have agreed not to disclose any financial details.
About Best Carbide Cutting Tools
Best Carbide Cutting Tools, LLC is a premium manufacturer of solid carbide round cutting tools located in Rancho Dominguez, California. The company is housed in a 46,000 square-foot state-of-the-art facility and currently has about 90 employees.
For over 95 years, CERATIZIT has been a pioneer developing exceptional hard material products for cutting tools and wear protection. The privately owned company, headquartered in Mamer, Luxembourg, develops and manufactures highly specialized tungsten carbide cutting tools, inserts, rods and wear parts. The CERATIZIT Group is the market leader in several wear part application areas and develops successful new types of hard metal, cermet and ceramic grades used for instance in the wood and stone working industry.
CERATIZIT S.A.
101, Route de Holzem
LU-8232 Mamer
Luxembourg
T. +352 31 20 85-1
F. +352 31 19 11
E. info@ceratizit.com
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