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This latest investment strengthens Element Six’s development of the industrial use of synthetic diamond supermaterials, ideally suited for Automotive and Aerospace applications.
As both the for Automotive and Aerospace sectors incorporate increasingly more durable materials, such as carbon-fibre-reinforced plastics, there is a growing demand for more precise advanced tooling and systems.
Acquiring the US-based MegaDiamond cutting tool business allows Element Six to maintain its global standing and expand its product portfolio through proprietary application-ready products and technology. Existing MegaDiamond customers will also benefit through access to previously unsupported sectors and an unrivalled pipeline of innovative products and services.
Element Six Chief Executive Officer, Cyrus Jilla was clearly pleased with the acquisitions:
“We are delighted to welcome MegaDiamond’s cutting tool customers and team to Element Six. We look forward to continuing to deliver excellent service and quality to these valued customers. We see this investment as another milestone in what has been a very positive year of development for the company.”
“We are establishing a strong innovation and operational performance base; and we look forward to working with all our customers to ensure they benefit from these strategic investments, especially in the enhanced performance of their products and applications.”
A member of the De Beers Group, Element Six has achieved steady growth through a number of investments in strategic capabilities and market sectors. The announcement of a $30million innovation facility in the UK is another example, and will become the world’s largest and most sophisticated synthetic diamonds supermaterials centre.