In 1992, new products like indexable inserts with new geometries, new generation of milling cutters, lazer making machines, etc were developed. In 1996, the company developed products such as new gradient sintered coated grades and inserts with improved geometrics. In the same year, special purpose machine division was developed and for the first time several sophisticated and precision machines like CNC broach resharpening machines, Compact 4 Axes CNC tools and cutter grinder for small tools, a fully automated laser making machine etc, were introduced. At present Widia Ltd manufactures a wide range of cutting tools, forming tools, mining tools and special purpose machines, which find a very wide application in the industry. They have two plants and a workforce of over 1,600 backed by research and development (R&D) facilities.

Widia Ltd has announced that it would seek the permission of Foreign Investment Promotion Board (FIPB) for its foreign promoters, Meturit AG to buy 56,44,920 equity shares of Rs 10 each accounting for around 26 per cent held by Indian promoters. At present the company`s foreign promoter holds 51 per cent stake, which would increase to 77 per cent after the acquisition worth Rs 150 crore. The move is seen as a part of the change in management of the company, globally to be followed by an open offer. The Widia group is being recently been taken over by the US-based Kennametal Inc. After this acquisition, the foreign company owns 51 per cent stake in Widia Ltd.