The Tyrolit Group has responded to the challenges of the global market by acquiring Radiac Abrasives. In these difficult economic times, this provides strength to Tyrolit’s position in North America and internationally. The acquisition agreement was signed in July 2009 after constructive negotiations.
Radiac is the second-largest manufacturer of bonded conventional and superabrasive grinding wheels in North America. Radiac operates four manufacturing facilities in the United States and Mexico. In 2008 Radiac achieved an annual turnover of USD 77 million with 400 employees. Headquartered in Salem, Illinois, the company consists of production centers, sales, and representative offices at various locations in the U.S., Canada, Mexico, Latin America, Ireland, and Poland. Radiac® will be retained as an independent brand and ideally complements Tyrolit’s portfolio in the U.S. Based on Tyrolit’s longstanding and sound technical expertise and our wide range of products, it expects to be able to leverage significant distribution synergies for the expansion of Radiac’s range.
The new synergies in the areas of production, purchasing, sales, and customer service will open up new opportunities in the American market. Because of the considerable market size, the demand for abrasives in North America accounts for almost 25 percent of the global demand for abrasives. For many years the industry has witnessed a constant process of consolidation in the abrasive market. The current economic crisis further
accelerates this development. Tyrolit has accepted these challenges by actively pursuing this acquisition. By taking over Radiac, it safeguards the international future of Tyrolit. The company has adopted an anti-cyclic strategy in the face of the current economic conditions. The takeover of Radiac is positive proof of its determination to implement an international strategy notwithstanding the present economic turbulences, confirming its standing as a leader in the international abrasives industry.
While it is now one company, it will continue to offer product brands from both Tyrolit and Radiac. It will also continue to approach the market using the same channels that it currently has in place. Its focus on distributor partners and end users will remain its top priority.
For more information contact Jason Melcher, VP of marketing, N.A., at (513) 458-8187 or jason.melcher@tyrolit.com. Go online to [www.tyrolit.com].
