CB-Ceratizit, a joint venture company of Ceratizit, part of the Plansee Group, has acquired 70% of all shares of Changzhou CW Toolmaker Inc.

The privately owned company based in Changzhou, China, 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, said Dr. Andreas Lackner, speaker of CB-Ceratizit's executive board.

"We want to strengthen our footprint in the production landscape of solid carbide cutting tools in China and Asia Pacific," said Lackner. "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.