SOURCE: IO News Wire

IO News Wire

May 24, 2010 07:30 ET

(OTCBB: AGRT) Completes Acquisition of AGR Stone & Tools USA

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire.

NEW YORK, NY--(Marketwire - May 24, 2010) -  AGR Tools, Inc. (OTCBB: AGRT) announced the other day that they have completed all necessary paperwork to finish their acquisition of AGR Stone & Tools USA, Inc.

AGR Tools is one of the leading makers of diamond tools for the European and Asian markets. Due to its hardness, abrasion resistance, thermal conductivity and many other favorable properties, diamond as an engineering material has long been pursued by scientists and engineers.

New fabrication and processing technologies have caused a "diamond fever" in the tooling industries for metal cutting, as well as drilling or surfacing of construction materials or ultra-hard materials. The market size for these tools is estimated at over 17 billion dollars worldwide.

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Other active stocks are The Home Depot (NYSE: HD) Lowe's Companies Inc (NYSE: LOW) and Sherwin-Williams Co (NYSE: SHW)

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