RELEASED IN DECEMBER 2010

N.C. Industries, Inc. (Amherst, NY), known as Niagara Cutter, has announced that it has entered into an agreement with a U.S. affiliate of Seco Tools to sell the Niagara Cutter business to Seco.

NCI is a producer of solid carbide end mills under the Niagara Cutter and Arch Micro Tools brands and is among the largest local producers in the USA of these products.  Its affiliated company – Diamond Tool Coating - is a producer of wear resistant diamond coatings.  Most of  NCI’s and DTC’s customers are found in the aircraft and power generation industries, as well as the general metalworking industry.

Niagara Cutter was founded in 1954, in North Tonawanda, New York.  Niagara Cutter has manufactured products in Reynoldsville, PA since 1976 and in Athol Massachusetts since 1987. Niagara Cutter has offices in Amherst NY.

“We are very excited to become affiliated with this great international company, and firmly believe that this will enable us to continue our long-term growth plans,” reported Sherwood Bollier, President of Niagara Cutter.

 “The end mill product area is regarded as strategically important, among other things for high-speed machining capability and the ability to close tolerance requirements.  The acquisitions will strengthen Seco Tools’ position and market share in this segment in general and the important US market in particular,” said Kai Wärn, President and CEO of Seco Tools.

Sherwood Bollier will remain as President of NCI and DTC after the acquisition and both companies will continue as separate entities in order to ensure continuity in operations.