Seco recently completed the acquisition of the cutting tool division of Quimmco Centro Tecnológico (QCT), a subsidiary of the Quimmco Group. The cutting tool division acquired from QCT has three locations in Mexico to support customers, and is a leading solid carbide tooling manufacturer, specializing in custom products and reconditioning.
“With this acquisition we build an even stronger foundation in North America for our round tools business, giving us additional capabilities within the fast-growing area of round tools,” said Fredrik Vejgården, president of Seco Tools, AB.
The cutting tool division acquired from QCT will continue to serve its customers and begin serving Seco customers directly after closing. As of June 1, they become a wholly-owned part of Seco Tools de Mexico and will discontinue use of the QCT name.
“This is a great compliment to our product and service portfolio in North America and enables Seco to serve the growing demand for solid carbide tools in Mexico,” said Rob Keenan, president, Seco North America. “The demand for high performance tooling solutions in Mexico is increasing, especially in the aerospace and automotive segments and the QCT acquisition positions us to meet that demand by being close to customers with engineering and production capabilities,” he said.
In 2019, the business had revenues of about $9 million USD and 130 employees.
Headquartered in Fagersta, Sweden, and present in more than 75 countries, Seco Tools is a leading global provider of metal cutting solutions for milling, turning, holemaking, and toolholding. For more than 80 years, the company has provided the technologies, processes, and support manufacturers depend on for maximum productivity.
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