Tokai Carbon Acquires CIP Group
Tokai Carbon has acquired 80% equity in Carbon Industrie-Produkte GmbH and Carbon Mechanik GmbH, the companies composing the CIP Group. As a result, the CIP Group has become a Tokai Carbon subsidiary.
Tokai hopes the acquisition will improve its position in the European market for specialty graphite, and will enable the company to provide even better, more-comprehensive service to its customers. CIP will continue to market its own range of EDM graphites, and will work closely with Tokai Carbon to enhance Tokai’s standing as a major supplier of EDM graphite in Germany and throughout Europe.
The CIP Group becomes the ninth member of the worldwide network of subsidiaries, affiliates, and offices formed by Tokai Carbon’s Fine Carbon division in Europe, the USA, and Asia, and contributes to the new owner’s global business strategy.