WALTER Surface Technologies (Montreal, Quebec) acquired fellow cutting tools manufacturer Greenfield Industries, gaining a company that has roots dating back to 1874. Terms of the deal were not disclosed.
Seneca, SC-based Greenfield makes branded and private label drills, taps, end mills and other cutting tools for a variety of industrial, maintenance, commercial and construction applications. Greenfield sells through industrial distribution under brand names Cleveland, Chicago-Latrobe, Cle-Line and Greenline Threading.
In 2009, Greenfield became part of the Top-Eastern Group (TDC) — the world’s largest manufacturer of twist drills.
“Greenfield brings to WALTER its premium USA-made brands and its robust manufacturing capabilities and infrastructure that will allow us to continue our mission to help our customers work better,” Walter CEO Marc-André Aubé said in a Jan. 8 news release. “Walter is always looking to provide solutions that answer the needs and challenges facing end-users in the metalworking industry.”
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Following the transaction, which is effective immediately, Greenfield will continue to operate under its own respective brands.
“This transaction is an unequalled opportunity to position WALTER as a primary supplier of tooling and drilling solutions in North America as we continue to evaluate other growth strategies, namely through accretive acquisitions,” Aubé added.
WALTER provides abrasives, power tools, tooling, welds cleaning, chemical tools and environmental solutions for the metalworking industry.
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