Ceratizit Group acquires leading manufacturer of solid carbide cutting tools
June 1, 2015
Ceratizit SA has acquired Klenk GmbH & Co. KG, a leading manufacturer of solid carbide cutting tools based in Balzheim, Germany. The purchase is stated as being part of Ceratizit’s worldwide acquisition strategy and further advances the group’s growth in the aerospace, automotive and medical technology industries.
“It is our aim to be perceived as a global premium player for all cutting tools,” stated Thierry Wolter, member of the Executive Board of the Ceratizit Group. Klenk mainly produces solutions for the aerospace, automotive as well as the medical technology industries. ” Klenk is highly specialised in the aerospace sector,” added Wolter, “With this acquisition we are investing in new know-how for a worldwide growth market.”
Air traffic is set to double in the next 15 years, stated Ceratizit, and aircraft reaching the end of their service lives will be replaced by more efficient and environment friendly variants. The demand for industry-specific metal cutting solutions is expected to rise.
Klenk has been manufacturing carbide cutting tools since 1959 and has some 120 employees at its site in Balzheim. Managing Director Horst Klenk, son of the company’s founder Rolf Klenk, has been running the company since 1976. The solid carbide tool manufacturer makes over 85% of its turnover with special tools for drilling, countersinking, reaming and milling as well as regrinding and diamond-coated tools. These tool solutions are used in the machining of carbon fibre-reinforced plastics, titanium and aluminium alloys or steels for the aerospace, automotive and medical technology industries.