The Ceratizit Group (Mamer, Luxembourg) acquired the Komet Group (Besigheim, Germany) on Oct. 12, 2017. The transaction is still subject to the approval of 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,” said 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,” said Jacques Lanners, CEO of the Ceratizit Group. “It opens up completely new prospects both for our customers and our employees.”
Ceratizit said it 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,” said Bönsch. Implementation of the “KOMET 2026” strategy will proceed as planned, thus ensuring that jobs are safe, he stated.
The Komet brand will have a key role in the Ceratizit Group’s cutting tools strategy, according to Lanners. “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,” he said.
The growing importance of digitalization is a key issue for the future for both companies. Komet has what it calls a “Digital Productivity Solutions” program and will assume an important role within the Ceratizit Group in developing digital products in the Industry 4.0 domain. In addition to offering digital solutions, Komet has realigned itself with two additional business areas, “Productivity Components” and “Engineered Productivity Solutions,” both aimed at providing customers with the tools they need to boost productivity.
The combined Ceratizit and Komet will become one of the top five players in the international cutting tools market, according the companies, with more than 9,000 employees at 34 production sites worldwide, according to the companies. The Komet Group currently employs 1500 employees and is represented in about 50 countries by its 22 subsidiaries. Ceratizit has more than 7000 employees at 27 production sites, a sales network of over 60 branch offices, and holds over 600 patents.