How to resolve AdBlock issue? Dormer Pramet to acquire Miranda Tools
- Details
- June 24, 2020
Click image to enlargeDormer Pramet has inked a deal to acquire Mumbai-based Miranda Tools, a manufacturer of high-speed steel (HSS) and solid carbide cutting tools.
With a corporate base in Mumbai and several manufacturing facilities in the state of Gujarat, Miranda is one of the leading domestic cutting tool brands.
The acquisition enhances Dormer’s production capabilities with a proven manufacturing platform and further strengthens its round tools offering for the general engineering, automotive component manufacturing and MRO industries.
“I am very pleased to have reached an agreement to acquire the business of Miranda Tools and look forward to welcoming them into the Dormer Pramet family,” said Stefan Steenstrup, president of Dormer Pramet . “We see a lot of commonalities between the two companies, with an established distribution network, long-standing customer partnerships, and a focus on product quality and service.”
It also strengthens Dormet’s position in wider markets, supporting a vast array of small to medium-sized workshops, which rely heavily on HSS cutting tools.
“By expanding our manufacturing footprint to encompass North and South America, Europe and now Asia, we can better serve these markets,” said Steenstrup
Miranda, which employs more than 580 people, offers a varied product portfolio including drills, taps, milling cutters tool bits and saws.
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