Ceratizit acquires precision tool manufacturer Komet
October 16, 2017
Ceratizit Group, Mamer, Luxembourg, has announced the acquisition of Komet Group, Besigheim, Germany, effective October 12, 2017, subject to the approval of the antitrust authorities. Komet manufactures high-precision tools and has reportedly been one of the innovation leaders in this field for almost 100 years. The group currently employs 1,500 employees and is represented by twenty-two global subsidiaries.
“This move lifts the close and long-standing partnership between the two companies to a new level,” explained Jacques Lanners, Chairman of the Executive Board, Ceratizit. “It opens up completely new prospects both for our customers and our employees.” According to Ceratizit, the Komet brand will now play a pivotal role in the group’s cutting tools strategy, from turning and milling to the complete machining of holes.
“The synergies in terms of technical expertise in substrate development, sintering technology, cutting tools technologies and coating are substantial and represent significant added value for our customers”, added Lanners.
“The disruptive changes in the market environment pose enormous challenges for Komet,” Dr Christof Bönsch, Komet CEO. “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.”
“Employees can look forward to a positive and attractive future,” Bönsch continued, “because, as a privately owned company, Ceratizit is keen to develop its sites in a sustainable manner. The implementation of the ‘KOMET 2026’ strategy will be continued in order to ensure the safety of the jobs.”
In addition to playing a key role in Ceratizit’s cutting tools strategy, the company also reportedly offers ‘Digital Productivity Solutions’ to the group, which could enable it to develop products in line with the demands of Industry 4.0.
According to Ceratizit, this acquisition is part of a continued growth strategy which has enabled it to double sales in the past ten years while strengthening its position in core markets. The positive synergies generated by the complementary product and customer portfolios of both companies will create new growth opportunities in the medium term.