SCHAAN, LIECHTENSTEIN - The Hilti Corporation is entering the North American professional diamond service contractor market with the purchase of U.S.-based Diamond B, Inc. on June 30.

This move allows Hilti to enhance its global position as the choice provider of equipment and consumables for the professional diamond service contractor.

A 25-year-old company based near Los Angeles, Calif., Diamond B is a top-tier diamond consumables manufacturer and one of the best known brands for this segment in the United States. The strategic acquisition combines the excellent consumable products of Diamond B with Hilti's innovative equipment. Diamond B's experienced sales force accelerates Hilti's entry into the North American diamond service contractor market through an established customer base.

Diamond B posted annual sales of $10.8 million in 2008. Both companies agreed not to disclose the purchase price.

The former owner and president of Diamond B, Webb Burnett, will retire from the business once the transition is complete. Long-time Hilti employee Andrew Hunt, previously the head of Hilti's Singapore market organization, will manage the new subsidiary.