Dormer Pramet, the global manufacturer of metal cutting tools, has signed an agreement with Ashok Piramal Group to acquire its machining solutions arm Miranda Tools. Miranda Tools is a manufacturer of High-Speed Steel (HSS) and solid carbide cutting tools with manufacturing facilities in Gujarat.
Dormer Pramet, a subsidiary of Sweden based Sandvik Group, is a global manufacturer with more than 20 sales offices around the world, including in New Delhi, supporting sales to more than 90 markets. This acquisition will further enhance Dormer Pramet’s production capabilities and strengthen the company’s round tools, offer for the general engineering, automotive component manufacturing, and MRO industries.
Stefan Steenstrup, president of Dormer Pramet, said: “We see a lot of commonalities between the two companies, with an established distribution network, long-standing customer partnerships, and a focus on product quality and service.”
Established in 1945, Miranda has built a strong reputation throughout India, as-well-as in numerous export markets, and has experienced strong growth in recent years. Their significant expertise in the Indian market will further enhance Dormer Pramet’s position as a leading global supplier of HSS solid round tools and strengthen Dormer’s position in the Asian markets, thereby supporting a vast array of small to medium-sized workshops, which rely heavily on HSS cutting tools. By expanding the manufacturing footprint to encompass North and South America, Europe and now Asia, the company can better serve these markets.
