Xometry acquires Machine Tool & Supply
Xometry, an online marketplace for custom manufacturing, announced today the launch of Xometry Supplies.
Xometry will help its 2,500 manufacturing partners simplify their supply chain by providing relevant materials, tools and industrial supplies when they accept jobs.
"Xometry Supplies is a natural extension of our efforts to provide our partners with both jobs and lower prices for their materials and tools," said Xometry's co-founder and CEO Randy Altschuler. "Ultimately our AI-driven algorithms will offer what our partners need when they need it, helping reduce not only cost but lead time. We will use these algorithms to make it easier and faster for manufacturers to get competitive pricing and fast delivery from one place, so they can focus on making high quality parts for customers."
To support this new business line, Xometry has established a materials logistics hub in Lexington, Kentucky, and acquired Machine Tool & Supply of Jackson, Tennessee, a regional tool supplier with more than 30 years of operational experience to accelerate its go-to market effort for tooling and industrial supplies.
"We're thrilled to join the Xometry team. Xometry shares our commitment to serving the shops that are the backbone of American manufacturing. The Xometry platform will let us more productively contribute to the profitability of this critical part of the economy," said Ramona Yates, CEO of Machine Tool & Supply.
Drura Parrish, president of Xometry Supplies, added, "The acquisition of Machine Tool & Supply allows Xometry to provide not only revenue for our partners but also the opportunity to lower their cost to manufacture, a win-win for both our partners and our customers."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
