WORTHINGTON, Ohio, July 29,
2024 /PRNewswire/ -- Hyperion Materials &
Technologies, a leading global materials science company that
develops advanced hard and super-hard materials, today announced it
has entered into a definitive agreement to acquire the operations
of Damen Carbide Tool Co., Inc, ("Damen Carbide"). Damen Carbide is
a Wood Dale, Illinois-based
company that specializes in grinding and EDM finishing of carbide
and ceramic components. Damen Carbide also develop tools for
metal packaging, slitting, sawing and a wide variety of general
industrial applications. Damen Carbide's core competencies and
manufacturing capacity, backed by with decades of manufacturing
expertise, will be a significant addition to the Precision
Solutions by Hyperion business.
"As we continue to grow our capabilities in carbide component
manufacturing, the addition of the Damen Carbide operation expands
our range of abilities to tailor custom parts to customers'
requirements," said Ron Voigt, Chief
Executive Officer of Hyperion. "Their expertise in the forming of
carbide, ceramic and steel, paired with their focus on quality,
positions them to be a key part of our team going forward."
Since 1948, the dedicated team at Damen Carbide has built a
reputation for providing high quality finished components and wear
parts, with a focus on quality, service, and delivery.
"We look forward to integrating our precision manufacturing
capabilities and expertise into the Hyperion Materials &
Technologies family," said John
Bachmeier, President of Damen Carbide. "We pride ourselves
on developing custom parts, tailored to the needs and demands our
customers require, and we see clear synergies between our goals and
the business of Hyperion's Precision Solutions brand."
In addition to serving its existing customers, the Damen Carbide
operations will become a vital part of the Precision Solutions by
Hyperion® business unit that provides custom solutions
and components for the most demanding applications. Precision
Solutions includes Hyperion's global facilities and maximizes the
collective strength of Crafts Technology, GLE Precision, Aggressive
Grinding Service, Dura-Metal and the recently acquired operations
of Prism Technologies to provide specialized finishing capabilities
for tailored, high-quality wear components.
Key business leaders at Damen will remain in place, and report
into the Hyperion organization. This transaction is expected to
close early in Q3 2024, subject to the completion of customary
closing conditions.
Media Contact
Matthew Seymour
VP of Marketing
Matthew.Seymour@hyperionmt.com
For More Information:
Hyperion Materials & Technologies: www.hyperionmt.com
Precision Solutions by Hyperion: PrecisionbyHyperion.com.
Damen Carbide Tool Co., Inc.: www.damencarbide.com
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SOURCE Hyperion Materials & Technologies