Takeover in the USA
Walter takes over Melin Tool
Walter acquires the American, owner-managed Melin Tool Company, a manufacturer of solid carbide and HSS end mills, drills and countersinking tools.
The company, which works primarily in the field of solid carbide end mills, fits in with Walter's strategic focus on expanding its milling tool business in the American market.
The American market is important to Walter and the acquisition strengthens the company's position in the solid carbide and HSS tooling sector, particularly in the aerospace industry and the American distributor market. The acquisition provides Walter customers with access to highly innovative machining solutions and rapid support. With a stronger presence in the US, the tool manufacturer can expand the range of inch tools for local market requirements and at the same time extend the range of special tools for this market.
"This acquisition is in line with our plan to expand our rotary tooling and reconditioning business close to the American market," says Richard Harris, President of Walter. "I am very pleased that we were able to reach an agreement on the acquisition as Melin Tool Company significantly strengthens our market presence. Melin's focus on innovation and service excellence is an excellent fit with Walter's business philosophy."
Michael Wochna will remain with the company as Managing Director. The parties have agreed not to disclose the purchase price.
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