Industrial diamond producer Element Six, a De Beers company, has acquired US-based Megadiamond’s cutting tool business from Schlumberger to become the largest supplier of abrasive supermaterials for the automotive and aerospace sectors.
As the global aerospace and automotive markets increasingly adopt hard-to-machine materials, such as carbon-fibre-reinforced plastics, there is a growing demand for more advanced precision tooling and materials. Cyrus Jilla, chief executive officer at Element Six described the investment “as another milestone in what has been a very positive year of development for the company.” The…
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