Seco Tools has signed a contract to acquire two US companies, NC Industries (NCI) and Diamond Tool Coating (DTC).
NCI is part of the Niagara tool and the manufacturer of hard alloy end mills under the Arch Micro tool brand and is one of the largest local producers in the United States. DTC is a manufacturer of wear-resistant diamond coatings, and its customers are mostly from the aerospace, power generation, and general machinery industries.
NCI and DTC have annual sales of approximately $3.7 million and employers around 170. Its largest production site is located in Reynoldsville, Pennsylvania. After the company was acquired, Sherwood Bollier's position as president of NCI and DTC was retained. To ensure smooth operation, the two companies will continue to be separate entities.
The acquisition will be completed by the end of this year.
“In terms of high-speed machining capabilities and tight tolerance requirements, the hard end mill product area is considered critical. The acquisition will strengthen Seco Tools' position and market share in the industry, especially in the US market,†Seco Kelly President and CEO Kai W?rn said.
NCI is part of the Niagara tool and the manufacturer of hard alloy end mills under the Arch Micro tool brand and is one of the largest local producers in the United States. DTC is a manufacturer of wear-resistant diamond coatings, and its customers are mostly from the aerospace, power generation, and general machinery industries.
NCI and DTC have annual sales of approximately $3.7 million and employers around 170. Its largest production site is located in Reynoldsville, Pennsylvania. After the company was acquired, Sherwood Bollier's position as president of NCI and DTC was retained. To ensure smooth operation, the two companies will continue to be separate entities.
The acquisition will be completed by the end of this year.
“In terms of high-speed machining capabilities and tight tolerance requirements, the hard end mill product area is considered critical. The acquisition will strengthen Seco Tools' position and market share in the industry, especially in the US market,†Seco Kelly President and CEO Kai W?rn said.
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