CUMI to buy two German abrasives firms
The Hindu
CUMI Abrasives GmbH, Germany,(CAG) a step down wholly owned subsidiary of the Carborundum Universal Ltd. (CUMI), has announced the buyout of two entities in Germany for an enterprise value of ₹464 cro
CUMI Abrasives GmbH, Germany,(CAG) a step down wholly owned subsidiary of the Carborundum Universal Ltd. (CUMI), has announced the buyout of two entities in Germany for an enterprise value of ₹464 crore and ₹68 crore respectively.
On Wednesday, CAG entered into a share purchase agreement with RHODIUS Abrasives, Germany (RHODIUS) to buy 100% stake for an enterprise value of ₹464 crore to enhance technology and geographical access.
RHODIUS is one of the producers of the world’s thinnest cutting wheel with extensive innovative capabilities including more cuts per battery charge. It has four subsidiaries in Spain, Czech Republic, Poland and Slovakia.
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