Wendt to buy Star Diamond Tools' diamond dresser business
Super abrasive grinding wheel maker Wendt (India) Ltd, part of the Murugappa group, on Friday said it will acquire the diamond dresser tool business of Star Diamond Tools Private Ltd.
In a regulatory filing in the BSE, the Rs.106 crore revenue Wendt (India) said it has entered into an agreement with Star Diamond Tools to acquire their diamond dresser tool business for around Rs.3 crore on slump sale basis.
The acquisition is subject to statutory approvals and would augment Wendt's current manufacturing capabilities.