Austrian producer of bonded grinding, cutting, sawing and drilling tools Tyrolit, part of the Swarovski Group, bought for an undisclosed sum the U.S. producer of superabrasive grinding wheels Wickman …
Austrian producer of bonded grinding, cutting, sawing and drilling tools Tyrolit, part of the Swarovski Group, bought for an undisclosed sum the U.S. producer of superabrasive grinding wheels Wickman Corporation, Tyrolit announced on 31 January 2003. Following the deal, Wickman will operate under the name Tyrolit Wickman Corp. Wickman was chosen by Tyrolit to strengthen the Austrian firm“s position in North America and to support the company“s further expansion, said Tyrolit“s executive manager, Jakob Mosser,. In additionWickman will help strengthen Tyrolits“s product range and know-how. Currently, Tyrolit derives USD 100 million annual turnover from its four manufacturing facilities in North America, which employ 500. In 2001, Tyrolit“s global turnover was USD 502.76 million. The company employs 3,400 worldwide.