Ceratizit S.A., part of the Plansee Group, has acquired all shares of Xceliron Corp, the company announced today. The Chatsworth, Calif.-based round tool manufacturer is focused on providing special solid-carbide tools for aerospace and automotive industries in the United States.
Financial details of the transaction weren't disclosed.
“With its high-quality specialty products, the Xceliron portfolio is an ideal complement to the standard products from our Sacramento site and an important building block for our global growth strategy,” says Mirko Merlo, president, Americas, at Ceratizit.
Xceliron founders Randy Jones and Ric DiOrio will remain with the company in managing director positions.
“We are thrilled to have found the right partner in Ceratizit to take Xceliron to the next level and build on our heritage. Long-term thinking and creativity are two of the values that have also been at the core of our business over the past thirty-three years,” Ric DiOrio and Randy Jones said in a joint statement.
News of the acquisition comes almost a month after Ceratizit announced its acquisition of Changzhou CW Toolmaker Inc., which specializes in the design, production and sales of tungsten-carbide cutting tools.
Connect With Us
