Ceratizit Group, headquartered in Mamer, Luxembourg, reports it has acquired the remaining shares of Ceratizit Los Angeles, located in Rancho Dominguez, California, USA, for an undisclosed sum on June 1, 2021. With this move, Ceratizit, part of the Plansee Group, now holds 100% of the shares in the subsidiary.
The Ceratizit Group acquired a majority share in Best Carbide Cutting Tools in early 2017, later renaming it Ceratizit Los Angeles. Today, the subsidiary functions as a specialist for solid carbide tools and high-end micro tools in the group’s North American production network. Alongside this Rancho Dominguez location, the network is made up of sites in Warren, Michigan; Schaumburg, Illinois; and Rancho Cordova, California.
“The Ceratizit Group’s acquisition of the remaining shares allows us to further expand our footprint and accelerate our growth strategy in the cutting tools market, specifically in high-end micro tools,” stated Mirko Merlo, president, Ceratizit Group Americas. “As a reliable partner and industry leader, we will continue to deliver engineering knowledge and technical proficiency to assist our customers in driving productivity.”