Sumitomo Electric’s A.L.M.T. Corp acquires Esteves Group
September 23, 2024
Sumitomo Electric Industries, Ltd., headquartered in Osaka, Japan, has announced that its wholly owned subsidiary, A.L.M.T. Corp., has completed the acquisition of all the shares of Esteves Group from Diamond Tools Group B.V., The Netherlands.
Esteves Group manufactures precision diamond tools for the wire and cable industry. Its product portfolio includes wire drawing dies, extrusion tools, and speciality tools. The company has been in existence for more than 100 years and has seven strategically located facilities in six countries in Europe, North America, and Asia.
Through this acquisition, A.L.M.T. will use both companies’ diamond die product lineups, technological capabilities, sales networks, and service bases to further strengthen its global business development, including expanding sales channels in Europe and the United States.
The Esteves Group brand will continue to be used after this acquisition, and there will be no major changes to the existing service and support structure.
The Sumitomo Electric Group will broadly support the development of infrastructure and industrial fields through the expansion of its business in high-precision, high-strength products that contribute to a green society.
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