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Walter USA Integrates Vannett Brands
In order to provide users with a wider range of products and technical services, tool manufacturer Walter USA Inc. has begun to integrate the Valenite LLC brand. Walter USA is part of Walter AG, headquartered in Tübingen, Germany, while both Walter AG and Vannett are owned by Sandvik AB, headquartered in Sweden. According to Mark Hemmerling, marketing director of Walter USA, the merger will complement each other: the Wannet brand focuses on turning tools and grooving tools; Walter tools is known for milling tools, drilling tools and threading tools. . The combined enterprise will be led by Muff Tanriverdi, president of Walter North America. The Walter-Valenite brand will focus on indexable tool products and join two other Walter brands: Walter Titex (carbide drills and milling cutters) and Walter Prototyp (high speed steel cutters, carbide thread cutters and milling cutters) . The integration also includes the relocation of Wannet's operations from Madison Heights, Michigan to Walter USA's headquarters in Waukesha. The relocation of the non-manufacturing divisions is expected to be completed on January 1, 2010, and the relocation of the manufacturing divisions will be completed in 2010. Completed mid-year. Hemmerling said that the Walter and Wannet brands are highly complementary and products are rarely duplicated. Walter tools have advantages in the Western European market, while Wannet tools mainly focus on the North American market. With the integration of Mannet and its MODCO brand, the Walter Group's sales share in North America will increase significantly from 8% to 17%.