CB-Ceratizit acquires majority of Changzhou CW Toolmaker to strengthen presence in Asia-Pacific region
August 16, 2023
CB-Ceratizit, a joint venture company of Ceratizit, part of the Plansee Group, has acquired 70% of all shares of Changzhou CW Toolmaker Inc, headquartered in Changzhou City, China. The privately owned company specialises in the design, production and sales of tungsten carbide cutting tools.
Changzhou CW Toolmaker was founded in 1998 and has invested in more than 160 machines for production and product inspection, mainly from well-established European brands. Customers include those in the aviation, railway and electronics sector, as well as mould and die industries.
The acquisition of Changzhou CW Toolmaker was said to be a critical component of CB-Ceratizit’s growth strategy in Asia. Dr Andreas Lackner, Speaker of Ceratizit’s Executive Board, shared, “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 provides Ceratizit with the opportunity to enter new markets. Andreas Fritz, Ceratizit President of the Regional Unit Asia Pacific, added, “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 companies agreed not to disclose the financial details of the transaction.
