Ceratizit acquires tool manufacturer

Ceratizit, the hard materials specialist within the Plansee Group, has acquired the German tool manufacturer Klenk.

The Klenk GmbH & Co. KG is specialized in manufacturing solid carbide cutting tools for drilling and milling. Klenk counts 120 employees at its site in Balzheim, Germany (in the south of Ulm). The takeover by Ceratizit was signed on May 28, pending the approval of the antitrust authorities. Both companies have agreed not to disclose any financial details.

"This acquisition further strengthens our position in the market for customized and coated tools made of solid carbide," said Karlheinz Wex, Co-Chairman of the Executive Board of Ceratizit. In recent years Ceratizit already acquired majority stakes in the German tool manufacturer Günther Wirth and the California-based tool manufacturer Promax Tools.

The specialized tools of Klenk are used for machining extremely resistant materials in the aerospace and automotive industries as well as in medical technology. Managing Director Horst Klenk, who runs the company since 1976: "With Ceratizit we have found a partner who is already highly engaged in the tooling business and has a global distribution network."

About the Plansee Group
With the divisions Plansee High Performance Materials, Global Tungsten & Powders (GTP) and Ceratizit and the investment in Molymet, the Plansee Group belongs to one of the worldwide leading powder metallurgical industrial groups that covers the whole supply chain of the high-tech materials Molybdenum and Tungsten – from ore processing to the production of customer-specific components.
In the 2013/14 fiscal year, the Plansee Group realized consolidated sales of 1.2 billion euros and employed a total of 6,060 people worldwide.
The fiscal year ends on the last day of February.