Seco Tools acquires company to advance aerospace strategy
Seco Tools has acquired 100 per cent of the shares in AOB, a French manufacturer of PCD cutting tools.
AOB, based in Mortagne-sur-Sevre near Nantes, France, is one of the leading suppliers of PCD tools to the aerospace, automotive and woodworking industries and has special expertise and experience in machining of composite materials (CFRP). AOB has annual revenue of approximately €4 million and around 50 employees.
"We are delighted at the opportunity to advance our position in the strategically important aerospace industry. The acquisition will further strengthen the high tech capability on which our customer relationships are based," said Kai Wärn, president and CEO of Seco Tools.
The acquisition is expected to be completed by the end of July.
