August 16, 2023

CERATIZIT S.A., Mamer, Luxembourg (Headquarters) and Changzhou CW Toolmaker Inc., Changzhou city, China, 14 August 2023

CB-CERATIZIT, a joint venture company of CERATIZIT, part of the Plansee Group, has acquired 70% of all shares of Changzhou CW Toolmaker Inc. The privately owned company based in Changzhou, China, specializes in the design, production and sales of tungsten carbide cutting tools for the electronic industry, and a variety of industries including aviation, railway, as well as mold and die industries.

The acquisition of Changzhou CW Toolmaker Inc. is an important part of CB-CERATIZIT’s growth strategy in Asia, as Dr Andreas Lackner, Speaker of CERATIZIT’s Executive Board, explains: ’We want to strengthen our footprint in the production landscape of solid carbide cutting tools in China and Asia Pacific. The acquisition of Changzhou CW Toolmaker helps us to reach this goal.’

The experience of the Chinese company also offers CERATIZIT the opportunity to enter new markets. Andreas Fritz, CERATIZIT President of the Regional Unit Asia Pacific, explains: ‘The expansion of the CERATIZIT portfolio to include machining solutions for electronic components in the 3C sector (computers, communications, and consumer electronics) is crucial for our success. By being able to draw on the high-quality production technologies and extensive manufacturing capacities of both CW and CERATIZIT, we offer our customers significant added value throughout the full value chain.’

Both sides have agreed not to disclose the financial details of the transaction.
 

About Changzhou CW Toolmaker Inc.

Changzhou CW Toolmaker Inc. is located in Xixiashu Industrial park, Changzhou, a renowned place for tool making. CW was founded in 1998 and specializes in the design, production and sales of tungsten carbide cutting tools. Since initiation, CW has invested in more than 160 machines for production and product inspection – mainly from well-established European brands. CW’s main products apply to precision machining of aviation, railway, electronics as well as mold and die industries. CW’s corporate value is putting customers first and emphasizing on honesty. Beyond that, CW guarantees a less-than-24-hour reply to its customers.