On Aug. 16, CB-CERATIZIT — a joint venture company of CERATIZIT, part of the Plansee Group — announced that it has acquired 70% of all shares of Changzhou CW Toolmaker Inc.
The privately owned company is based in Changzhou, China, and specializes in the design, production and sales of tungsten carbide cutting tools for the electronic industry, and a variety of industries including aviation, railway, as well as mold and die industries.
The acquisition of Changzhou CW Toolmaker Inc. is an important part of CB-CERATIZIT’s growth strategy in Asia, the company said.
“We want to strengthen our footprint in the production landscape of solid carbide cutting tools in China and Asia Pacific,” said Dr. Andreas Lackner, Speaker of CERATIZIT’s Executive Board. “The acquisition of Changzhou CW Toolmaker helps us to reach this goal.”
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