Walter AG has sold its grinding and measuring machine division to the Schleifring Group in order to concentrate on its core carbide tools and tool data management software business.
The German company said the sale of the division, which achieved sales of €76.5m in 2003, would not affect the position of 388 employees previously involved in its worldwide machine operations. The business will remain at Walter’s site at Tübingen.
Walter GB at Redditch will continue as the base for UK operations, with Neil Whittingham as sales director for the grinding machine range which includes the five-axis Helitronic tool grinders, Helicheck and Toolcheck tool measuring units and Woodtronic TCT saw blade grinders.
The Schleifring Group, the machine tool division of Körber AG, comprises seven companies including grinding machine manufacturers Studer and Ewag. Anti-trust authorities must first approve the takeover.
