TYROLIT expands to Switzerland and South Africa
Since the end of January 2014 the TYROLIT Group has held around 51% in South African company Grinding Techniques (Pty) Ltd, thereby gaining a foothold on the African continent with its own subsidiary for the first time. Employing 230 staff, the company is one of South Africa’s leading manufacturers and traders in grinding tools.
Grinding Techniques (Pty) Ltd is not, however, the first acquisition this year. At the beginning of January, TYROLIT Hydrostress AG, seated in Pfäffikon (Switzerland), a company responsible for developing and producing grinding and drilling machinery, acquired a 100% stake in Basel-based Nestag Diamant und Schleiftechnik AG.
The Austrian TYROLIT Group is one of the world’s leading providers of bonded tools for grinding, cutting, drilling and dressing, as well as machinery for the construction industry. The company, which is part of the Swarovski Group, has been family-run since 1919 and currently employs over 4,600 people at 27 production sites in 11 countries. TYROLIT manufactures around 80,000 different products in its construction, stone, ceramics and glass, trade, metal and precision divisions. These products are sold via 28 distribution companies and other distributors in more than 65 countries.