Dormer Pramet agrees to acquire business of India-based Miranda Tools

July 8, 2020 2:41 pm

Dormer Pramet has agreed to acquire the business of India-based Miranda Tools, a manufacturer of High-Speed Steel (HSS) and solid carbide cutting tools, subject to conditions.

With a corporate base in Mumbai and several manufacturing facilities in the state of Gujarat, Miranda is one of the leading domestic cutting tool brands.

The acquisition enhances Dormer Pramet’s production capabilities with a proven manufacturing platform and further strengthens the company’s round tools offer for the general engineering, automotive component manufacturing and MRO industries.

Dormer Pramet is a global manufacturer with more than 20 sales offices around the world, including in New Delhi, supporting sales to more than 90 markets.

Stefan Steenstrup, president of Dormer Pramet, said: “Established in 1945, Miranda has built a strong reputation throughout India, as-well-as numerous export markets, and has experienced strong growth in recent years. The addition of their significant expertise in India will further enhance Dormer Pramet’s position as a leading global supplier of HSS solid round tools – an area of the market where we continue to expand.”

Miranda, which employs more than 580 people, offers a varied product portfolio including drills, taps, milling cutters tool bits and saws