Dormer Pramet has completed the previously announced acquisition of Miranda Tools, a manufacturer of High-Speed Steel (HSS) cutting tools in India. With a corporate base in Mumbai and several manufacturing facilities in the state of Gujarat, Miranda is one of the leading domestic brands of drills, taps, milling cutters, tool bits and saws.
Following six months of activity to finalize the acquisition, more than 580 employees will now become part of Dormer Pramet, a global manufacturer of cutting tools and enhances the company's existing production capabilities in Brazil, Czech Republic and the USA. Also, the deal strengthens Dormer Pramet's round tools offer for the general engineering, automotive component manufacturing and MRO industries in India and around the world. An inauguration ceremony took place at the main Miranda production unit in Ankleshwar on December 23, marking the first day since the acquisition from the Ashok Piramal Group.
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