Jan 4 2006
Kennametal Inc. announced today the acquisition of a leading European supplier of ECM (Electro Chemical Machining) technologies and solutions -- VMB, Diva-Tec and VMB Entgrattechnik.
This acquisition, combined with the technology of Kennametal's ExtrudeHone ECM (Electro Chemical Machining) group, creates one of the world's leading providers of ECM solutions. ExtrudeHone, a supplier of market leading engineered component process technology joined Kennametal in March 2005. The addition of the VMB / Diva-Tec Group, which employs 140 people in Babenhausen and Erkheim, Germany, will provide ExtrudeHone a more complete product range, complementary technologies and a broader array of engineering expertise. The new ExtrudeHone ECM group will be headquartered in Erkheim, Germany.
"This acquisition, though small, is in alignment with Kennametal's strategy to grow significantly in the areas of advanced materials and engineered components," commented Kennametal President and CEO, Carlos Cardoso. "The additional technology these companies offer in combination with ExtrudeHone ECM furthers our strategy to build a strong foundation for long- term growth across all market segments and geographic regions."