Columbus-headquartered Hyperion Materials & Technologies, which develops hard and super-hard materials for a range of demanding applications, has completed its acquisition of AFC Hartmetall, a premium cemented carbide tool blank manufacturer, which was announced in September.
The German company expands Hyperion’s product portfolio and manufacturing capabilities, while further positioning the company as the first choice for toolmakers in need of high-precision, high-performance solutions for drilling and milling applications. AFC's production facility in Germany is Hyperion's 11th worldwide.
“AFC has an extremely talented workforce and a tremendous reputation for supporting customers,” Hyperion CEO Ron Voigt said, in a statement. “Together, we will work toward the shared goal of becoming the world’s top independent supplier of cemented carbide tool blanks.”
There will be little change as the companies begin the integration process. AFC will maintain its own brand identity and continue operations at its Mainleus, Germany, headquarters. AFC founder Arno Friedrichs stepped down as CEO and joined the Hyperion board, and Ralf Greifzu, who has led AFC’s global sales for seven years, is now vice president and general manager of AFC. In addition, AFC employees will participate in Hyperion’s shared employee equity program.