Hyperion Materials & Technologies completes acquisition of A
WORTHINGTON, Ohio, Jan. 2, 2020 /PRNewswire/ -- Hyperion Materials & Technologies, a global leader in developing hard and super-hard materials for a wide range of demanding applications, on Jan. 1 completed the acquisition of AFC Hartmetall, a premium cemented carbide tool blank manufacturer, marking the close of the highly complementary agreement announced in September.
"Bringing AFC into the Hyperion group creates an extensive product portfolio and expands our manufacturing capabilities, boosting our already robust offering and further positioning us as the first choice for toolmakers in need of high-precision, high-performance solutions for drilling and milling applications," said Ron Voigt, CEO of Hyperion. "AFC has an extremely talented workforce and a tremendous reputation for supporting customers. Together, we will work toward the shared goal of becoming the world's top independent supplier of cemented carbide tool blanks."
There will be little change as the companies begin the integration process. AFC will maintain its own brand identity and continue operations at its Mainleus, Germany, headquarters. AFC founder Arno Friedrichs stepped down as CEO and joined the Hyperion Board of Directors, and Ralf Greifzu, who has led AFC's global sales for seven years, is now General Manager of AFC. In addition, AFC employees will participate in Hyperion's shared employee equity program.
"We are looking forward to the benefits of collaboration across sales, product development and manufacturing," Greifzu said. "This partnership greatly expands our global footprint, creating the opportunity to introduce our industry-leading products to more markets while ensuring we can provide even better support to our existing clients."
AFC is highly regarded for its innovative technologies in solid, preformed and coolant channel tool blanks, the latter of which is a rapidly growing market because of the ability to offer increased cutting performance and precision. Customers will continue to buy from their current contacts at each company as they gain access to the combined product portfolio.
David Means, Communications Specialist
+1 (614) 438-2396
About Hyperion Materials & Technologies
Hyperion Materials & Technologies is a global leader in cemented carbide, diamond and cubic boron nitride technologies with production facilities in North and South America, Europe and Asia, and sales in more than 70 countries.
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SOURCE Hyperion Materials & Technologies