The Ceratizit Group, headquartered in Mamer, Luxembourg, has announced the acquisition of the Komet Group located in Besigheim, Germany. Effective from October 12th 2017, the transaction is still subject to the approval of the antitrust authorities.
“The disruptive changes in the market environment pose significant challenges for Komet but the acquisition by Ceratizit now opens up new opportunities for sustainable growth,” said Dr Christof Bönsch, CEO of the Komet Group.
“The takeover sees the emergence of a new global player with a wealth of technology expertise and broad market access. This move lifts the close and longstanding partnership between the two companies to a new level,” added a delighted Jacques Lanners, chairman of the executive board of the Ceratizit Group. “It opens up completely new prospects both for our customers and our employees.”
“Ceratizit is committed to Germany as a key production and innovation hub and employees can look forward to a positive and attractive future because, as a privately-owned company, Ceratizit is keen to develop its sites in a sustainable manner,” Christof Bönsch explained. “The implementation of Komet’s 2026 strategy is still a priority.”
The Komet brand will play a pivotal role in the Ceratizit Group’s cutting tools strategy. Going forward, customers will have an even stronger partner in all areas of cutting tool technology, from turning and milling to the complete machining of holes. “The synergies in terms of technical expertise in substrate development, sintering technology, cutting tools technology and coating are substantial and represent significant added value for our customers,” Jacques Lanners affirmed. “The growing importance of digitalisation will continue to be a key issue for both companies.”
Ceratizit and Komet together will become one of the top five global players in the international cutting tool market. Its more than 9,000 employees at 34 production sites worldwide will manufacture products in close proximity to customers.
The acquisition marks the continued implementation of the Ceratizit Group’s successful growth strategy, which has enabled it to double sales in the past ten years while strengthening its position in core markets. The positive synergies generated by the complementary product and customer portfolios of both companies will create new growth opportunities in the medium term.
Ceratizit www.ceratizit.com
Komet www.kometgroup.com
