Ceratizit S.A. has acquired the remaining shares in Ceratizit Los Angeles as of June 1. This means that the company, which is part of the Austrian Plansee Group, is now the 100% owner of the subsidiary based in Rancho Domingo, California.

The Ceratizit Group had already acquired the majority of the shares in the company, which was still called Best Carbide Cutting Tools at the time, at the beginning of 2017. Today, Ceratizit Los Angeles, together with the sites in Warren, Michigan, Schaumburg, Illinois and Rancho Cordova, California, forms the Group’s North American production network. Within this, the location acts as a specialist for solid carbide tools and, in particular, high-end micro tools and serves customers throughout the Americas.

Mirko Merlo, President Americas at the Ceratizit Group, said: “The acquisition of the remaining shares by the Ceratizit Group will enable us to further expand our presence and accelerate our growth strategy in the cutting tools market, particularly in the area of high-end micro tools. As a trusted partner and industry leader, we will continue to bring our expertise and technical competence to help our customers increase their productivity.”

Both sides have agreed not to disclose the financial details of the transaction.