Dormer Pramet has completed the previously announced acquisition of Miranda Tools, a manufacturer of high-speed steel (HSS) cutting tools in India.
With a corporate base in Mumbai and several manufacturing facilities in the state of Gujarat, Miranda is one of the leading domestic brands of drills, taps, milling cutters, tool bits and saws.
Following six months of activity to finalise the acquisition, more than 580 employees will now become part of Dormer Pramet, a global manufacturer of cutting tools. It enhances the company’s existing production capabilities in Brazil, Czech Republic and the USA.
Also, the deal strengthens Dormer Pramet’s round tools offer for the general engineering, automotive component manufacturing and MRO industries in India and around the world.
Dormer Pramet is part of Sandvik Machining Solutions’ division within the business area Sandvik Manufacturing and Machining Solutions.
Last year was the 75th anniversary of Miranda Tools.
Joint venture in India
Local cutting tool manufacturer FEW formed a joint venture with one of FEW’s longstanding suppliers, Miranda Tools. The two companies formed Miranda FEW Tools Pvt. Ltd and after sourcing equipment in Ireland and Switzerland the company began manufacturing taps in 2005.