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Canadian Company Acquired USA Drill Bit Brands

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Walter Surface Technologies, a Canadian-based company that “provides innovative solutions for the global metalworking industry,” has acquired Greenfield Industries, a group of USA-based tooling manufacturers, from TDC, which is based in China.

Greenfield Industries includes brands such as Cleveland, Chicago-Latrobe, Cle-Line, and Greenfield Threading, which have maintained “robust manufacturing capabilities and infrastructure” in the USA.

These brands produce drill bits, thread-cutting taps, and other such tooling.

Walter is acquiring Greenfield Industries from the Top-Eastern Group (TDC), a Chinese-based company that specializes in drill bits and similar cutting tools.

According to a Greenfield Industries “about” page, they were acquired by TDC, which they describe as “the word’s largest manufacturer of twist drills,” in 2009.

The group was previously acquired by Kennametal in 1997, after going public in 1995, before the sale to TDC.

Greenfield Industries say that their beginnings can be traced back to 1874 in Cleveland, Ohio, and that the company formed from several smaller manufacturers in the early 1900s. They expanded via “complementary acquisitions” until going public in 1995.

Walter’s business portfolio includes other metalworking tool brands, including Triumph Twist Drill, which also produces drill bits and thread-cutting taps in the USA.

Thank you to Boris for the heads-up!