Indutrade’s acquisition of Inovatools Group completed
As announced in a press release on 22 September, Indutrade today carried out the acquisition of all the shares in the German Inovatools Group (www.inovatools.eu), with annual sales of approximately EUR 33 million. Inovatools, established in 1990, is a manufacturer of metal cutting tools. Its offering is centered around solid carbide end mills and tools. Customers are in the mechanical engineering industry, aeronautical engineering industry, automobile industry and tool manufacturing industry. Half of the group’s sales are exported, while the other half are sold to customers in Germany.