Hyperion Materials & Technologies to acquire Italy-based carbide product manufacturer Sinter Sud S.p.A.

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Jun 21, 2021, 09:02 ET

WORTHINGTON, Ohio, June 21, 2021 /PRNewswire/ -- Hyperion Materials & Technologies, a leading global materials science company that specializes in developing advanced hard and super-hard materials for a wide range of industries and applications, announced today it has reached an agreement to acquire Sinter Sud S.p.A., an Italy-based manufacturer of cemented carbide products.

"Sinter Sud has nearly 50 years of experience making premium tungsten carbide products and has established an especially strong presence in Europe supplying carbide rod blanks for drilling and end milling applications," said Ron Voigt, CEO of Hyperion. "Bringing Sinter Sud into the Hyperion family of companies that includes another carbide rod market leader in AFC Hartmetall broadens our product portfolio and further expands our position as a full-service global provider for toolmakers."

Established in 1974 and headquartered in Sant'Agata de Goti, Italy, Sinter Sud primarily manufactures carbide rod blanks (solid and with coolant channels) that complement the current offering from Hyperion and AFC. The company also produces additional carbide products used to make metal cutting, woodworking and mining tools that will both complement and expand Hyperion's overall portfolio.

"We are thrilled to join Hyperion and work together to become the number one independent carbide rod producer in the world," said Antonio Suppa, founder and President of Sinter Sud. "We share the vision of focusing on service, innovation and growth as a non-rival supplier to toolmakers. With our state-of-the-art production facility that has room to grow and strong research and development capabilities, our talented and productive team members are ready for the exciting opportunities ahead."

Mr. Suppa, who owns the company with a small management group that includes family members, will continue to serve as an advisor for the business after the transaction closes later in the year following customary regulatory approvals and the completion of closing conditions. Key business leaders at Sinter Sud will remain in place and report into the Hyperion organization.

"We are looking forward to welcoming our new colleagues and accomplishing great things together," Voigt said. "The synergy we will be able to accomplish with both Sinter Sud and Germany-based AFC will greatly boost our capability to provide a large assortment of blanks with first-class service to toolmakers globally."

CONTACT:

Alexandra Kusoffsky, [email protected]