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Consolidated Diamond Back in Stone |
Addtime:2009-10-12 |
PUNXSUTAWNEY, Pa. ¨C Consolidated Diamond, a longtime stone-tooling brand, is coming back to the market.
Hoffman
Diamond Products announced the formation on Oct. 1 of its Consolidated
Diamond division, along with the opening of a new U.S. manufacturing facility to produce original-quality branded router bits, CNC tools, and core drills.
The
original owners of Consolidated re-acquired the assets of the brand
from St. Paul, Minn.-based 3M Co., and will be offering the entire
Consolidated product line through Punxsutawney-based Hoffman.
Consolidated
Diamond was founded in 1941 to make diamond tools for defense
production during World War II; it was one of the first companies in
the country to manufacture diamond-tipped saw blades.
In 1990,
Consolidated began specializing in the stone industry, while recently
acquired Hoffman focused on the construction and refractory industries.
In June 2007, Consolidated was sold to 3M for approximately $12.8
million in 3M common stock. |
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