The Ceratizit Group, headquartered in Mamer, Luxembourg, has acquired the Komet Group, headquartered in Besigheim, Germany.
The acquisition became effective on 12 October 2017 with the transaction still subject to the approval of the antitrust authorities.
Explains Komet Group chief Dr. Christof Bönsch: “The disruptive changes in the market environment pose enormous challenges for Komet. The acquisition by Ceratizit now opens up new opportunities for sustainable growth. The takeover sees the emergence of a new global player with superior technology expertise and broad market access.”
The two groups say that the acquisition will make Komet stronger while it also plays a “pivotal” role in the Ceratizit Group’s cutting tools strategy with customers having an even stronger partner in all areas of cutting tools technology. They add that Ceratizit and Komet, together, “will become one of the top five global players in the international cutting tools market”.
Adds Ceratizit Group executive board chairman Jacques Lanners: “This move lifts the close and long-standing partnership between the two companies to a new level. It opens up completely new prospects both for our customers and our employees.”
Together Ceratizit and Komet have more than 9 000 employees at 34 production sites worldwide and the product portfolio covers all major cutting tools technologies. Subsidiaries in the Group include WNT, Günther Wirth and CB-Ceratizit as well as the tool manufacturers Promax Tools, Klenk, Cobra Carbide India, Becker Diamantwerkzeuge and Best Carbide Cutting Tools.