With $659,055 worth of inventory to sell

An Industry in need of a Solution

According to the 2013 Gardner Publishing Tooling and Workholding Survey, the U.S. Cutting Tool Industry is estimated at $3.6B annually. Within this industry, tungsten carbide inserts for turning, milling, drilling, threading, parting, and grooving represent nearly 26.3% or $950M annually. In addition, the job shop market represents an estimated $1.047B in overall cutting tool consumption, making up nearly 29% of the market. In the U.S. market, there is an estimated $1.0B+ in surplus and overstock goods that exist in the metal cutting industry amongst the 1,200+ industrial distribution companies, 1,000+ cutting tool manufacturers and countless machine shops across the country. Currently, there is no viable solution to this problem that exists at all levels of the distribution chain. It has grown to become the proverbial "elephant in the room" that nobody wants to talk about or knows what to do with. Imagine if there were a unique, easy-to-use website that linked buyers and sellers, offering both profit and value. That simply hasn’t existed…until now.

The Facts

  • $3.6B Cutting tool industry
  • $1.0B Surplus & overstock goods
  • No Viable Surplus Solution
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