HYDE IBS enters into merger with APPLIED CUTTING TECHNOLOGY of MIDLOTHIAN VIRGINIA
Hyde Industrial Blade Solutions (IBS), a division of Hyde Tools, Inc., today announced the merger between Applied Cutting Technology of Midlothian Virginia and Hyde IBS. The merger will deliver a wider selection of products and technology to both company’s customers. The new company will be known as HYDE going forward.
“Applied Cutting Technology and Hyde have a very long history producing circular blades and knives for industry. This merger of the machinery and assets of both companies will allow us to service all our customers at a higher level,” said Rick Clemence CEO, Hyde Group Inc.. “Both companies have enjoyed a long history of success. Both Hyde and Applied Cutting Technology are ‘made in the USA companies’, that focus on finding solutions to customers cutting problems and solving the customer issues with fast delivery, high quality, and excellent technical support.”
David Kistler, CEO and President of Applied Cutting Technology said “We are very excited that the Applied Cutting Technology sales and technical team will fully join on with the HYDE team, so our customers will not miss a beat. With the full sales team, and all the machinery and competence of Applied Cutting moving to the HYDE Massachusetts manufacturing center we will be able to offer our customers everything they are accustomed to receiving, and improve on some key values like scope of offering, and delivery time improvements. There will be no outwardly apparent changes for customers as both companies are working hard to ensure a smooth and seamless transition with no service interruption.”
No terms were disclosed.
Applied Cutting Technology specializes in the manufacturing and supplying of custom straight and circular cutting tool products to the global marketplace.
As a wholly-owned division of the Hyde Group Inc., Hyde Industrial Blade Solutions services a wide variety of markets including food processing, cloth, textile and leather, hose and tube, tire and rubber, plastics processing, paper converting, packaging and abrasives as well as for general industrial applications. The Hyde Group Construction Division delivers products to construction and industrial markets around the globe. Currently, the Hyde Group manufactures close to 10,000 unique products delivering 40 million units of product a year through retail, OEM and industrial distribution.
For more information on the line acquisition or Hyde Industrial Blade Solutions, contact us at 54 Eastford Road, Southbridge, MA 01550. Phone: 800-872-4933 or at www.hydeblades.com