Wendt (India) Ltd. has entered into an agreement with Star Diamond Tools Pvt. Ltd., for the acquisition of its 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 Diamond Tools Pvt. Ltd., is a closely held company having its manufacturing facility at Deonar, Mumbai. Promoted by Mr. Girish Zaveri, in the field for over 50 years, the company is a leader in its field and exports its products to the US and Europe.
Wendt India Ltd. is a leading manufacturer of super abrasive grinding wheels (diamond and cubic boron nitride), special purpose grinding machines and tools, and precision components. It offers functionally superior products and services for grinding and machining “hard-to-process materials”. These products find application in various industry segment, including automobiles, cutting tools, engineering, bearing and steel.