Walter has reached an agreement to acquire the privately owned US based company Melin Tool Company, a manufacturer of solid carbide and HSS end mills, drills and countersinks. Melin is a growing company, supported by innovations in the solid carbide endmill product family making the acquisition a strategic fit to enlarge Walter’s milling business in the United States.
The US is a key market for Walter and the acquisition strengthens the company’s round tool offering, especially for the aerospace industry and the US 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 USA allows to grow the inch assortments in line with local market requirements and to support the market with customised tooling solutions even better.
“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.”, says 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.
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