The Ceratizit Group announced the acquisition of the Komet Group, effective October 12, 2017. The transaction is still subject to the approval of the antitrust authorities.

"The disruptive changes in the market environment pose enormous challenges for Komet. The acquisition by Ceratizit now opens up new opportunities for sustainable growth," says Dr. Christof Bönsch, CEO of the Komet Group. "The takeover sees the emergence of a new global player with superior technology expertise and broad market access."

"This move lifts the close and long-standing partnership between the two companies to a new level," says Jacques Lanners, chairman of the executive board of the Ceratizit Group. "It opens up completely new prospects both for our customers and our employees."

Ceratizit is committed to Germany as a key production and innovation hub. "Employees can look forward to a positive and attractive future because, as a privately owned company, Ceratizit is keen to develop its sites in a sustainable manner," says Bönsch. The implementation of the "Komet 2026" strategy will be continued in order to ensure job security.

The Komet brand will play a pivotal role in the Ceratizit Group's cutting tools strategy. Going forward, customers will have an even stronger partner in all areas of cutting tools technology, from turning and milling to the complete machining of holes. "The synergies in terms of technical expertise in substrate development, sintering technology, cutting tools technologies and coating are substantial and represent significant added value for our customers," explains Lanners.

The growing importance of digitalization is a key issue for the future for Ceratizit and Komet. Komet has carved out an excellent position in this field with its Digital Productivity Solutions and will assume an important role within the Ceratizit Group in developing innovative products in the Industry 4.0 domain. In addition to offering digital solutions, Komet realigned itself with two additional business areas, "Productivity Components" and "Engineered Productivity Solutions," aimed at providing customers with exactly the tools they need to boost their productivity.

Ceratizit and Komet together will become one of the top five global players in the international cutting tools market. Its more than 9,000 employees at 34 production sites worldwide will manufacture products in close proximity to customers. The product portfolio is game-changing and covers all major cutting tools technologies.

The acquisition marks the continued implementation of the Ceratizit Group's successful growth strategy, which has enabled it to double sales in the past ten years while strengthening its position in core markets. The positive synergies generated by the complementary product and customer portfolios of both companies will create new growth opportunities in the medium term.