Market News Dormer Pramet aquires US-based Wetmore Tool and Engineering
Cutting tool specialist Wetmore now strengthens the portfolio of Dormer Pramet. With this acquisition, Pramet strengthens its position in the aerospace industry.
Based in Chino, California, Wetmore Tool and Engineering is a leading manufacturer of adaptive shank drill technology, as well as fasteners, reamers and rivet shavers. The company specialises in cutting tools for hand-held skin drilling applications performed by several global aerospace organisations.
The acquisition significantly strengthens Dormer Pramet’s position and product offer within the aerospace industry, particularly in markets such as the US, Brazil, Canada, China, France, Italy and UK.
Stefan Steenstrup, president of Dormer Pramet, said: “I am very pleased to have reached an agreement to acquire Wetmore Tool and Engineering and we welcome them into the Dormer Pramet family.
“Wetmore has, for more than 60 years, been a leading supplier of high quality cutting tools renowned for its precision and serviceability to the aerospace industry. Combined with a pro-active approach to customer service, this makes the company an excellent fit both strategically and culturally with Dormer Pramet.
“We very much see this as business as usual for both companies as we continue to grow and expand our presence within the aerospace industry. It gives us significant brand recognition, not only in the US, but worldwide.
“Existing Wetmore customers will still receive the high-quality products and services they have become accustomed to. In addition, they will now have access to Dormer Pramet’s extensive range of high quality solid and indexable cutting tools.
“Similarly, the Wetmore brand will become well-known with Dormer Pramet customers around the world through our established global distribution and sales network.”
Jerome David, chief executive officer at Wetmore Tool and Engineering, will continue in the position and play an important role in overseeing the transition as a member of Dormer Pramet’s senior management team.
As part of the acquisition, the Wetmore brand becomes a product brand of Dormer Pramet, alongside its current Dormer, Pramet, Precision Twist Drill and Union Butterfield assortments.