Radiac Abrasives

Salem, IL, August 3, 2009  --  Radiac Abrasives announced today that the company has been acquired by Tyrolit Schleifmittelwerke Swarovski KG.  www.tyrolit.com Tyrolit is a leading world-wide manufacturer of conventional bonded and superabrasive products to the industrial metalworking, construction, and natural stone industries.  Headquartered in Schwaz, Austria, Tyrolit was founded by Daniel Swarovski in 1919.   Tyrolit employs over 4500 people in 25 production facilities and 15 countries including U.S. operations in Elyria and Cincinnati, OH and Wixom, MI.  The company holds ISO 9001 and ISO14001 certifications for both quality and the environment.  Tyrolit is part of the world renowned Swarovski Group along with Swarovski Crystal and Swarovski Optik.

Radiac is the second largest manufacturer of bonded abrasives and superabrasive grinding wheels in the United States.  Radiac and its predecessor companies have been manufacturing abrasives for over 115 years providing a full line of custom grinding product to its customers across various industrial markets including aerospace, oil and gas, primary metals and automotive.  Radiac will continue to be headquartered in Salem, IL and operate manufacturing facilities in Salem, Oswego, IL, Marysville, WA, and Tijuana, Mexico.  The company will continue to operate as Radiac Abrasives, Inc.

This acquisition strengthens Tyrolit’s market position in North America and builds upon the brand’s strengths world-wide.   “The synergies between Tyrolit and Radiac make this acquisition the perfect marriage of conventional bonded and superabrasive products, industry group focused engineering expertise and services to industrial customers around the globe”, said David Pryor, President and Chief Executive Officer of Radiac Abrasives.  “The depth of Tyrolit’s research and development and consistent flow of new products to the industrial marketplace are strong complements to Radiac Abrasives’ current market strengths”, added Fritz Korradi, Managing Director of Tyrolit’s Metal Precision Business.  Tyrolit’s acquisition supports its international growth strategy even in these trying economic times, confirming the company’s standing as a market leader in the international abrasives industry.

Radiac® will continue to be marketed as an independent brand with products made at the company’s current manufacturing facilities.  In this regard, the Tyrolit management issued the following statement: “Based on Tyrolit’s long-standing, sound technical expertise and our wide range of products, we expect to be able to leverage significant distribution synergies for the expansion of Radiac’s product and geographic range”.   The strength of Tyrolit’s logistics strategy further allows Radiac to better serve its international customers.  David Pryor will continue his role as President and CEO of Radiac as well as Tyrolit North American Holdings, Inc.  Consolidations are expected to take place, better serving customers and distributors of both companies.