10 September 2024
A.L.M.T Corp. Acquires Esteves Group from Diamond Tools Group B.V.
Sumitomo Electric Industries, Ltd. is pleased to announce that its wholly owned subsidiary, A.L.M.T. Corp., completed the acquisition of all the shares of Esteves Group from Diamond Tools Group B.V. (Netherlands) on September 9 (local time in the Netherlands).
Esteves Group is a leading manufacturer of precision diamond tools for the wire and cable industry worldwide, with a product portfolio that includes wire drawing dies, extrusion tools, and specialty tools. The company has a history of more than 100 years and has a total of seven strategically located facilities in six countries in Europe, North America, and Asia.
Through this acquisition, A.L.M.T. will utilize both companies’ diamond die product lineups, technological capabilities, sales networks, and service bases to further strengthen its global business development, including the expansion of sales channels in Europe and the United States.
The Esteves Group brand will continue to be used after this acquisition, and there will be no major changes to the existing service and support structure.
The Sumitomo Electric Group will broadly support the development of infrastructure and industrial fields through the expansion of its business in high-precision, high-strength products that contribute to a green society.
■Outline of the Acquisition Target
| Company name | Esteves Group |
| Founded | 1913 |
| Location | Spain, Poland, U.S.A., Mexico, China, Malaysia |
| Business | Manufacture and sale of diamond tool products |