Best Carbide Cutting Tools had become Ceratizit Los Angeles when the Ceratizit group, a company of the Austrian giant Plansee, acquired the majority of the shares in 2017. On Tuesday, it announced that the Ceratizit group is now the sole owner of Ceratizit Los Angeles, having acquired the balance of the shares that did not yet belong to it, for an amount which the parties did not disclose.

“Ceratizit Los Angeles, together with the sites in Warren, MI, Schaumburg, IL, and Rancho Cordova, CA, forms the group's North American production network. As part of this, the site functions as a specialist for solid carbide tools and in particular high-end micro tools and serves customers throughout the Americas," according to the company press release.

According to Mirko Merlo, President of the Ceratizit Group Americas, this acquisition “allows us to further expand our footprint and accelerate our growth strategy in the cutting edge tools market, specifically in high-end micro tools ”.

Ceratizit, headquartered in Mamer, is a company specialising in hard material solutions for wear protection and machining. It has over 7,000 employees in more than 25 sites. 

This article was originally published on Paperjam and has been translated and edited for Delano.