Posted January 18, 2010
Machine Tool Supply to acquire Cutting Edge Tool & Supply
Machine Tools Supply (MTS) announced the pending acquisition of Cutting Edge Tool & Supply (CET), of Chatsworth, Calif., as a wholly owned subsidiary of MT Supply Inc.
"We have successfully implemented several AutoCrib based inventory management systems in the valley," said George Ponce, president of MTS, based in Costa Mesa, Calif. "And with that success we knew that an acquisition of this nature would further establish us in this territory and position us for continued growth."
Cutting Edge Tool is a full-service industrial distributor specializing in indexable and solid round cutting tools, workholding and measurement equipment and cutting fluids.
Since its inception six years ago, CET has become established as a premier customer service based organization in the San Fernando Valley, said Ponce. "Cutting Edge Tool & Supply, as a leading industrial distributor in this market, now being enhanced with the value added services and products offered by MTS, will be a stronger business partner to their customer's going forward," he said.
Currently, MTS is undergoing the due diligence process and plans to complete the acquisition in early February.
Machine Tools Supply introduced the AutoCrib point-of-use hardware and inventory management software and established a separate corporation in 1995.
