Ceratizit Acquires Klenk
Ceratizit advances their solid carbide tools position for growth in the aerospace, automotive and medical industries.
Posted: June 15, 2015
Ceratizit S.A. (Mamer, Luxembourg) has acquired a German manufacturer of solid carbide cutting tools, Klenk GmbH & Co. KG (Balzheim, Germany), to augment their product portfolio with customized solutions for solid carbide round tools. The purchase is part of a worldwide acquisition strategy and reinforces the positioning of the Ceratizit Group as a premium provider of all kinds of cutting tools.
This acquisition further advances Ceratizit’s growth in the aerospace, automotive and medical technology industries and further strengthens its position in the solid carbide tools market. “Our aim is to be perceived as a global premium player for all cutting tools,” explains Thierry Wolter, a member of the executive board of the Ceratizit Group. “With this acquisition we are expanding our product portfolio.”
Klenk will profit from the global sales network of the Ceratizit Group and its strong presence on the world market. For its production, Klenk will be able to draw rods and blanks from the competence brand Toolmaker Solutions by Ceratizit. The solid carbide tool manufacturer’s own “Klenk” brand will be kept. The takeover was signed on May 28, pending the approval of the antitrust authorities. Both private companies have agreed not to disclose any financial details.
The acquisition provides a spurt in the growth of the Ceratizit Group in important target sectors, as Klenk mainly produces solutions for the aerospace, automotive and medical technology industries. “They are highly specialized in the aerospace sector,” explains Wolter. “With this acquisition we are investing in new know-how for a worldwide growth market.”
Air traffic is set to double in the next 15 years, while aircraft reaching the end of their service lives will be replaced by more efficient and environment friendly aircraft. Correspondingly, the demand for industry-specific metal cutting solutions will rise.
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