Plansee Group becomes majority shareholder in Ceratizit Group
March 3, 2021
Austria’s Plansee Group has reported that as of March 1, 2021, it holds the majority interest in the carbide tool production company Ceratizit SA, headquartered in Mamer, Luxembourg. Formed in 2002 as the result of a merger between Plansee Tizit and Cerametal, Plansee Group’s share in Ceratizit initially accounted for 50%.
The parties have agreed to keep the extent of the acquired interest and any financial details confidential, although it is reported to be the largest transaction in Plansee’s history. It was added that Plansee Group holds options to acquire the remaining stake in Ceratizit in the coming years.
Since its inception, Ceratizit’s sales volume has tripled and the company has evolved into a leading company within the hard metal industry.
“We want to continue Ceratizit’s success story more quickly and more effectively, by being the majority shareholder,” stated Karlheinz Wex, spokesman of the Plansee Group executive board. “Our objective is to create a fully integrated corporate group for the production and processing of molybdenum and tungsten materials.”
Wex sees potential for synergies in the supply of tungsten raw material, in the close cooperation on digitalisation projects and in service functions. Relevant details will be worked out in the coming months, although some essential elements in this process have been outlined with further integration of Plansee High Performance Materials (products made of molybdenum and tungsten metals) and Ceratizit (tungsten carbide tools) and the future safeguarding of the raw materials supply for the long term.