The acquisition of Changzhou CW Toolmaker Inc. is an important part of CB-CERATIZIT’s growth strategy in Asia, as Dr Andreas Lackner, speaker of CERATIZIT’s executive board, explains: “We want to strengthen our footprint in the production landscape of solid carbide cutting tools in China and Asia Pacific. The acquisition of Changzhou CW Toolmaker helps us to reach this goal.”
The experience of the Chinese company also offers CERATIZIT the opportunity to enter new markets. Andreas Fritz, CERATIZIT president of the regional unit Asia Pacific, explains: “The expansion of the CERATIZIT portfolio to include machining solutions for electronic components in the 3C sector (computers, communications and consumer electronics) is crucial for our success. By being able to draw on the high-quality production technologies and extensive manufacturing capacities of both CW and CERATIZIT, we offer our customers significant added value throughout the full value chain.”
Both sides have agreed not to disclose the financial details of the transaction.
