Gunther Wirth acquires remaining stake in GW Precision Tools India
German tool manufacturer Günther Wirth (GW), a part of the carbide specialist CERATIZIT with headquarters in Mamer, Luxembourg, has acquired the remaining 25% of the outstanding shares in GW Precision Tools India Pvt Ltd in Bangalore.
CERATIZIT India Pvt Ltd currently employs approximately 180 people and is involved in the development, production, marketing and selling of cutting tool inserts and tool holders. CERATIZIT and GW have been manufacturing hard metal products in India for more than 20 years.
At the end of 2012, the CERATIZIT Group invested in a 50% share in the tool manufacturer Günther Wirth (GW), thereby complementing its product line with rotating cutting tools such as drills, end mills and reamers. With this acquisition, CERATIZIT and its business unit Günther Wirth are further strengthening their presence and activities in the Asian cutting tool market and in the dynamic high-tech region of Bangalore.
“To meet increasing demand for cutting tools in Asia, a market that is driven in particular by the automotive and aerospace industries, we are now entering our next phase of growth in the dynamic and important Indian market,” commented Mr Gerhard Bailom, Managing Director of GW. Together with Mr Ashwani Sareen, Managing Director of CERATIZIT India, he will run GW Precision Tools India, which currently employs approximately 120 people in Bangalore. With this acquisition, CERATIZIT will be fully equipped to provide comprehensive tooling solutions.