Ceratizit Group expands in Asia
October 26, 2010
Ceratizit Group announced earlier this month that it has acquired a 50% stake in carbide manufacturer CB Carbide. The deal means that 25% of the Ceratizit Group’s sales will now come from Asia.
CB Carbide is one of the leading carbide manufacturers in Asia, employing 1,500 people across 8 production sites in Taiwan and China and 13 sales offices worldwide.
As part of the deal, Ceratizit and CB Carbide are merging their existing Asian manufacturing and sales activities (without India) into a newly formed holding company, CB Ceratizit Luxembourg SA. Ceratizit and the shareholders of CB Carbide will each hold a 50% stake in the joint venture.
The joint venture company will sell products from both CB Ceratizit and Ceratizit in China, Taiwan, Korea, south-east Asia and Australia, while CB Ceratizit products will be sold in Europe, India and the US via Ceratizit’s sales network. The two privately owned companies have agreed not to disclose financial details of the transaction.
Chairman of CB Carbide Wan Lung Liao commented, “CB Carbide has excellent market positioning in Asia, combined with Ceratizit’s outstanding technological knowledge and global presence, this joint venture will create exceptional value for all our customers. The joint venture company will focus to grow the Asian market while benefiting from Ceratizit sales network in Europe and US.”
Jacques Lanners, CEO of Ceratizit, stated “Ceratizit already has a global production and sales network, but by entering this joint venture, we will be able to further increase our activities in the rapidly growing Asian market. We are very impressed by CB Carbide’s previous success and see the company as the ideal partner – together, we can become a leading manufacturer of hard-metal products and solutions in Asia.”
About CERATIZIT and CB Carbide
Ceratizit S.A. is a pioneer and global player in sophisticated hard material solutions. The company operates from Mamer, Luxembourg. Ceratizit is the world market leader in unique and consistently innovative hard material products for wear protection and cutting tools and is present in more than 50 countries. In the automotive industry, mechanical engineering, oil industry, medical systems, electronics as well as mould and die making customers benefit from this fact. With more than 400 active patents and 4,000 employees, Ceratizit is your high-powered partner worldwide.
CB Carbide is an expanding major Asian hard material manufacturer with production sites in Taiwan and China. The company has a vertically integrated production from raw material to finished products. CB Carbide offers quality products, quick delivery, and personalized service at a competitive price to customers covering automotive, mold making, electronics and mining industries.