According to General Carbide, Michigan-based Only Tool is one of a few U.S. manufacturers that offers in-house design, production, and servicing of precision carbide and high-speed steel tooling used in cold-extrusion and cold-forming operations. 

General Carbide did not provide terms of the deal, but said co-owners owners Ray Fender and Mick Ruffolo will continue to operate the business. Between them, the two have 80 years of experience in the automotive tool and die business. 

"By sharing our expertise in research and development and manufacturing with Only Tool, we are creating new opportunities for both companies in the automotive tooling market," said General Carbide president and chief executive Mona Pappafava-Ray.