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2 October 2009 Walter AG Takes Over Valenite
Walter AG will expand its tooling brand portfolio by integrating Valenite into the Walter Group. Walter Valenite will be integrated into the operations of Walter North America. The acquisition of the US-based cutting-tool manufacturer takes effect from January 1, 2010. The move will see the US company’s range of indexable-insert tools for turning, drilling and milling, as well as its special-purpose tooling, being incorporated into the Walter family of carbide and PCD insert tooling for turning, drilling and milling, Walter Titex drilling products, and Walter Prototyp threading and milling tools. Walter chairman Peter Witteczek says that the addition of the Walter Valenite products “will not only improve our presence in North America, but will also enhance our worldwide position in the automotive sector.” Valenite, founded in 1943 as MODCO for the manufacture of special tools, has for decades been recognized as a market leader in the US, particularly in the automotive sector. It continues to supply that industry, along with manufacturers in the medical, wind energy and aerospace sectors. For further information: Walter AG
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