01.05.2019
MAPAL acquires majority stake in ADICO - manufacturer of PCD and PcBN blanks
ADICO is Part of the MAPAL Group
ADICO and MAPAL have been working together for years. MAPAL fully integrated the company into the Group at the end of 2018. The reason for this is because ADICO co-founder, Dr Hyun Sam Cho, retired.
MAPAL has acquired the majority stake in ADICO, a manufacturer of PCD and PcBN round blanks headquartered in Gyeonggi-do, South Korea. MAPAL and ADICO have been working together closely for many years. MAPAL acquired a stake in ADICO in 2016. The company has now been integrated into the MAPAL Group. The reason for this was the departure of Dr Hyun Sam Cho. The cofounder and managing director of ADICO left the company when he retired in December 2018. MAPAL acquired all of his shares in the company.
The ADICO portfolio
ADICO has been developing and producing PCD and PcBN round blanks with various diameters and in various qualities since 1999. The blanks serve as the base material for the production of PCD and PcBN cutting edges and are in demand all over the world. The main buyers are the metal and wood industries. In addition to the companies belonging to the MAPAL Group, which is its biggest customer, ADICO also supplies other tool manufacturers. In the course of the acquisition, ADICO is increasing its production capacity at the plant in Gyeonggi-do and expanding the company’s product range. The most recent development that was placed on the market was a round blank with a diameter of 75 mm. What is special about this product is that there is only one other supplier in the world. The round blank is of interest to the wood market in particular.
Feierliche Verabschiedung von Dr. Hyun Sam Cho
Für Dr. Hyun Sam Cho, Gründer und ehemaliger CEO von ADICO, veranstaltete MAPAL im Rahmen eines Besuchs in der Firmenzentrale in Aalen eine feierliche Verabschiedung. Dr. Jochen Kress dankte Dr. Cho für die langjährige und vertrauensvolle Zusammenarbeit. Zum Abschied überreichte er dem bisherigen Geschäftsführer von ADICO einen Ammoniten von der Schwäbischen Alb. Die 200 Millionen Jahre alte Versteinerung stehe sinnbildlich für die dauerhafte Verbindung zwischen ADICO und MAPAL, sagte Dr. Kress. Auch Dr. Cho bedankte sich für das konstruktive Miteinander und erwähnte die engen persönlichen Kontakte. Er freue sich, dass ADICO nun Teil der Gruppe sei. Die Zukunft des Unternehmens und die seiner Mitarbeiter liege damit in den besten Händen.
