Walter has reached an agreement to acquire the privately owned U.S. based company Melin Tool Company, a manufacturer of solid carbide and HSS end mills, drills and countersinks.
The United States is a key market for Walter and the acquisition strengthens the company’s round tool offering, especially for the aerospace industry and the U.S. channel partner market. The acquisition gives Walter customers access to advanced cutting tool solutions and responsive support. A stronger footprint presence of Walter in the United States allows the company to grow the inch assortments in line with local market requirements and to support the market with customized tooling solutions.
“The acquisition is aligned with our focus on expanding our milling business in round tools and reconditioning capabilities close to customers in the American market," said Richard Harris, president of Walter. “I am very pleased that we have reached an agreement to acquire Melin Tool Company as it increases our market presence and has a strong innovation focus and high service level that is aligned with Walter’s approach to doing business.”
Michael Wochna will remain in the company as president. The parties have agreed not to disclose the purchase price.