Dormer Pramet Expand its Round Tools Offer with Miranda Tools Acquisition

Angala Srinivasan (R)  
Dinesh Jain (L),  Group CFO,  Ashok Piramal Group

Dormer Pramet has completed the acquisition of Miranda Tools, a manufacturer of High-Speed Steel (HSS) cutting tools in India, from Ashok Piramal Group. Miranda is one of the leading domestic brands of drills, taps, milling cutters, tool bits and saws, with a corporate base in Mumbai and several manufacturing facilities in Gujarat. It has over 580 employees and now becomes part of Dormer Pramet to strengthen the company’s current production capacities in Brazil, Czech Republic and the US.

Angala Srinivasan Vice President- PU & Operations, Dormer Tools India Pvt Ltd was presented as the new Production Unit Manager, responsible for all Miranda Tools manufacturing facilities. Gautam Ahuja, Managing Director, Dormer Pramet India, was also introduced to employees, along with other main representatives. The deal also strengthens Dormer Pramet’s round tools range for the general engineering, automotive component manufacturing and MRO industries in India and around the world.

Delighted by the acquisition, Stefan Steenstrup, President, Dormer Pramet said, “This year is the 75th anniversary of Miranda Tools, a business which has always been at the forefront of industrial developments in India. It is therefore fitting that in this milestone year the brand returns to its metalworking heritage by becoming part of Dormer Pramet, a leading manufacturer of cutting tools for more than a century.”  He further added, “We see this acquisition as business as usual and I would like to reassure all our customers and partners that it will not impact their ability to receive the products they need, when they need them.”