Ceratizit strengthens tool business in India

Ceratizit, the hard materials specialist within the Plansee Group, has acquired a majority share in Indian solid carbide tool manufacturer Cobra Carbide.

Cobra Carbide based in Bangalore has 45 employees. The company specializes in the manufacture of tools made of hard metal. The drills and mills of Cobra Carbide are used for material processing in the automotive and aerospace industries as well as in medical technology.

Ceratizit already operates a plant in Bangalore for the manufacture of solid carbide tools. With the acquisition of Cobra Carbide, Ceratizit further strengthens these activities in India.

Ceratizit has acquired 67 percent of the shares in Cobra Carbide. The transaction was signed on 8 September 2015. Both private companies have agreed not to disclose any financial details of the transaction.

About the Plansee Group
With Plansee High Performance Materials, Global Tungsten & Powders (both 100 percent) as well as Ceratizit (50 percent) and the investment in Molymet (20 percent), the Plansee Group, headquartered in Reutte, Austria, 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 the ore concentrate processing to the production of customer-specific components.
In the 2014/15 fiscal year, the Plansee Group realized consolidated sales of 1,26 billion euros with 6,253 employees.
The fiscal year ends on the last day of February.