Seco Tools Inc., the U.S. arm of Sweden’s Seco Tools AB, this week announced an agreement to acquire the American companies NC Industries (NCI) and Diamond Tool Coating (DTC) for an undisclosed price. It said the acquisition will be complete before year’s end.
Seco Tools AB is a global supplier of metalworking technologies and offers a full range of tools for milling, turning, holemaking, and threading applications as well as service and software solutions.
NCI produces the Niagara Cutters and Arch Micro Tools brands of solid carbide end mills. The DTC products are wear-resistant diamond-coated tools. According to Seco, the two product lines are among the largest in their domestic market segments.
The two brands have a manufacturing operation with 170 workers at Reynoldsville, Penn. NCI and DTC customers include aircraft OEMs and power-generation industry suppliers, as well as shops supplying the general engineering sector.
Sherwood Bollier will remain as president of NCI and DTC after the acquisition, and both companies will continue as separate entities. Andreas Fritz, managing director of Jabro, will be board chairman for the companies.
“The end mill product area is regarded as strategically important, among other things for high-speed machining capability and the ability to close tolerance requirements,” explained SECO Tools president and CEO Kai Wärn. “The acquisitions will strengthen Seco Tools’ position and market share in this segment in general and the important U.S. market in particular.”