The Plansee Group now holds a majority interest in Luxembourg-based Ceratizit SA, which makes carbide tools.

Ceratizit was created in 2002 as the result of a merger between the Austrian company Plansee Tizit and the Luxembourg company Cerametal, and previously, Plansee’s stake accounted for 50%.

The company says that this is the largest transaction in the company's history. Plansee holds options to acquire the remaining stake in Ceratizit in the future.

‘We want to continue Ceratizit's success story more quickly and more effectively, by being the majority shareholder,’ said Karlheinz Wex, Plansee spokesman. ‘Our objective is to create a fully integrated corporate group for the production and processing of molybdenum and tungsten materials.’

This story uses material from Plansee, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.