Sumitomo Electric Industries, Ltd. (Headquarters: Chuo-ku, Osaka; President: Osamu Inoue) hereby announces that its wholly-owned subsidiary, Allied Material Co., Ltd. (Headquarters: Chuo-ku, Tokyo; President: Kazuo Yamagata), has completed the procedure to acquire all the shares of Esteves Group BV (Netherlands) from Diamond Tools Group BV (Netherlands) on September 9 (local time in the Netherlands).
Esteves Group is a leading manufacturer of precision diamond tools for the global wire and cable industry, with a product portfolio that includes drawing dies, extrusion tools, and specialty tools. The company has a history of over 100 years and strategically operates a total of seven locations in six countries: Europe, North America, and Asia.
Through this acquisition, Allied Material will further strengthen its business expansion in Europe and global market by utilizing the product lineup, technological capabilities, sales network, and service bases of both companies.
After the acquisition, Esteves Group's brand will continue to be used, and there will be no significant changes to the existing services and support systems of both companies.
Our group supports the development of infrastructure and industries by expanding the business of high-precision, high-strength products that contribute to a green society.
Acquisition Overview
㈱アライドマテリアル 精密ダイヤモンド工具の大手メーカー Estevesグループを買収
Acquired Esteves Group, a leading manufacturer of precision diamond tools, at Allied Material Co., Ltd.
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