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Manufacturing industry news
News Release from: Walter GB
Edited by the Manufacturingtalk Editorial
Team on 31 May 2004
Walter sells its grinding and measuring
activities
Walter AG has divested its grinding and measuring machine division to the Hamburg, Germany-based Schleifring Group, the machine tool division of Koerber AG.
Walter AG has divested its grinding and measuring machine division to the Hamburg-based Schleifring Group, the machine tool division of Koerber AG The agreement, which is pending approval by the antitrust authorities, leaves Walter AG to focus on expanding its core business in the development, production and sales of cemented carbide tools and tool data management software
This article was originally published on Manufacturingtalk on 23 Oct 2001 at 8.00am (UK)
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The change of ownership will not have a negative effect on the 388 employees previously involved with Walter's worldwide machine operations, which achieved sales of EUR 76.5 million in 2003.
Schleifring's new division will be managed from Walter's site at Tubingen, Germany, as will research and development, sales, administration and production of the Walter machines.
In terms of the UK operations, Walter GB's Redditch location will continue as the base with Neil Whittingham as Sales Director for an extensive grinding machine range that embraces five-axis Helitronic tool grinders, Helicheck and Toolcheck tool measuring machines and Woodtronic TCT saw blade grinders.
With seven companies, including grinding machine manufacturers Studer and Ewag, the Schleifring Group is represented in 28 countries, has just under 2,000 employees and generated sales of approximately EUR 345 million in 2002.
"When selecting the buyer, we wanted to be sure that the new owner would offer the best possible perspectives for the future development of the machine division," commented Peter Witteczek, Walter AG chief executive officer.
"Walter machines and the Schleifring Group complement each other very well.".
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