Walter president Richard Harris and GWS Tool Group president Rick McIntyreClick image to enlarge

Walter has signed an agreement to acquire GWS Tool Group, which manufactures solid carbide endmills and drills as well as HSS taps and PCD products.

GWS is focused on highly engineered customized cutting tools for the US market. The company has a strong focus on the aerospace industry and provides a complementary product portfolio. The acquisition is a strategic opportunity to increase Walter’s and GWS’ position in the manufacturing of advanced components and lightweight materials, the companies say. The acquisition supports Walter’s growth strategy in North America, expanding Walter’s overall offering.

“I am very pleased that we have reached an agreement to acquire GWS, as it will significantly increase our presence in the US and strengthen our solid carbide tools offer in this key market,” said Richard Harris, president of Walter.

“We are excited to pair our North American manufacturing presence and commitment to service with the vast capabilities, resources and expertise of Walter,” said GWS president Rick McIntyre. “This is a big win for our customers, who have always been our most important stakeholder.” McIntyre will stay on as president of GWS.

GWS will continue operating as a standalone entity with its own salesforce and brand. The parties have agreed not to disclose the purchase price. The transaction is expected to close during the fourth quarter of 2021 subject to regulatory approvals.

Walter

GWS Tool Group

New sales appointments at Tungaloy Canada

Tungaloy has added Michael Paterson to its Quebec team as sales and application engineer.

GDP jumped in May: Statistics Canada

Real gross domestic product (GDP) grew 4.5 per cent in May after falling off a cliff when emergency measures to slow the spread of COVID-19 resulted in widespread shutdowns.

Event promotes advanced manufacturing

Canadian manufacturers have the potential to become world-class leaders in manufacturing if they implement leading edge technologies and digital tools that will enable them to compete effectively.

B.C. flooding affected 28% of manufacturing plants: StatsCan

Despite the gains in manufacturing sales observed for November, supply chain issues continued to impact production in many industries key to job shops, including transportation. Moreover, floods in British Columbia further exacerbated the situation.

Deere, Hitachi end joint venture; Deere acquires BC factory

John Deere has announced an agreement with Hitachi Construction Machinery to end the Deere-Hitachi joint venture manufacturing and marketing agreements.

Manufacturing improves, supply chain pressures mount: Manufacturing PMI

The latest IHS Markit Canada Manufacturing PMI (Purchasing Managers’ Index) finds Canada’s manufacturing sector enjoying “robust improvement.”

Hiroyuki Kawakami appointed president of Mitsui Seiki Kogyo, Ltd.

Hiroyuki “Roy” Kawakami has been promoted to President of Mitsui Seiki Kogyo, Ltd., the parent company of Mitsui Seiki USA, Inc.

Barreling Down

Circle segment cutters are reshaping how shops attack complex surfacing operations

Strong growth for Canada's manufacturing sector

Strong expansion in new orders pushed the Canadian manufacturing sector to another solid improvement in February, according to the most recent report from IHS Markit.

Manufacturing leads August jobs rebound

Employment rose by 246,000 in August, compared with 419,000 in July, according to the latest jobs data from Statistics Canada.

Manufacturing sales better than expected: StatsCan

Better than expected manufacturing data has helped to slow a decline in manufacturing sales.  

Linda Hasenfratz to chair Linamar board of directors

Linamar Corporation has announced that Linda Hasenfratz has been elected Executive Chair of its Board of Directors.

CWB adds automotive collision technician program

CWB Consulting has announced a new training and welding qualification program for the automotive collision repair sector.

Prima Industrie launches additive business

Prima Industrie, parent company of Prima Power, is getting into the additive business with the launch of its new division Prima Additive and the introduction of a new additive machine, the Print Sharp 250.

Ontario launches Intellectual Property resource

The Ontario government has launched a new agency, Intellectual Property Ontario, to serve as a “go-to resource for Intellectual Property (IP) expertise” aimed at helping companies strengthen their ability to compete in the global market.

Stay In Touch

twitter facebook linkedIn