Luxembourg-based Ceratizit Group (
www.ceratizit.com) has acquired Germany’s Komet Group, creating a new top-five global player in the cutting-tool market with more than 9,000 employees at 34 production sites world-wide.
Komet CEO Christof Bönsch said: “The disruptive changes in the market pose enormous challenges for Komet, but the acquisition by Ceratizit opens up new opportunities for sustainable growth.
"The take-over sees the emergence of a new global player with superior technology expertise and broad market access.”
Ceratizit chairman Jacques Lanners said: “This move lifts the close and long-standing partnership between the two companies to a new level.
"The synergies in terms of technical expertise in substrate development, sintering technology, cutting-tool technologies and coating are substantial.”