April 20, 2024 13:56 (IST)
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Wendt (India) Ltd enters into an agreement to acquire Diamond tool business
Mumbai, Jan 29 (IBNS): Wendt (India) Ltd, have entered into an agreement with a leading Diamond Tool manufacturer, Star Diamond Tools Pvt. Ltd for the acquisition of the Diamond Dressing Tools business.
The transaction will be consummated subject to fulfilment of certain conditions as laid down in the agreement.
This acquisition of Star‘s diamond tools business is expected to strengthen Wendt India’s presence in Stationery dressing tool business and would help in enhancing the product basket. Star is a well-known brand for diamond dressers like single point, chisels, blades etc.
The transaction is expected to be closed in the fourth quarter of the financial year 2015-16.
Star Diamond Tools Pvt. Ltd is a closely held company having its manufacturing facility in Deonar, Mumbai.
It was promoted by Girish Zaveri a pioneer in this field for over 50 years. The company is a leader in its field in India and exports its products to the US and Europe.
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