Walter has reached an agreement to acquire the Melin Tool Company, a privately-owned, Cleveland, Ohio-based company and manufacturer of solid carbide and HSS end mills, drills and countersinks. Melin is a growing company, supported by innovations in the solid carbide endmill product family making the acquisition a strategic fit to increase Walter’s milling business in North America.
The U.S. is a key market for Walter and the acquisition strengthens the company’s round tool offering, especially in the aerospace industry and with the channel partner market. The acquisition gives Walter customers access to advanced cutting tool solutions and responsive support. A stronger presence in the U.S. allows 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 Company as it increases our market presence and has a strong innovation focus and high service level that is aligned with Walter’s approach to doing business.”
Michael Wochna will remain as president of Melin Tool.
Melin Tool Company is a provider of high-quality round tools. The company is focused on solid carbide end mills, drills and countersinks to the aerospace and medical industries. Its headquarters is located in Cleveland, Ohio, with an additional warehouse in California. The company has approximately 100 employees.
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