CUMI Abrasives GmbH, Germany, (CAG) a wholly owned subsidiary of Carborundum Universal Limited (CUMI), has announced the purchase of two entities in Germany for an enterprise value of ₹464 crore and ₹68 crore respectively.
On Wednesday, CAG inked a share purchase agreement with Rodius Abrasives, Germany (RHODIUS) to buy 100% stake for an enterprise value of Rs 464 crore to enhance technology and geographic reach.
Rodeus is one of the world’s producers of the thinnest cutting wheel with extensive innovative capabilities that include greater reductions per battery charge. It has four subsidiaries in Spain, the Czech Republic, Poland and Slovakia.
N Ananthasheshan, MD, CUMI, said: “RHODIUS has over seven decades of experience in high-performance grinding and cutting consumables for metal and stone machining. More than 70% of its revenue is exported to over 100 countries. is generated through
Sreedharan Rangarajan, Director of Finance and Strategy, CUMI, said: “The acquisition of RHODIUS’ just concluded AWUKO Abrasives asset purchase aligns with CUMI’s strategic expansion plans. RODIUS reported a healthy return profile with sales of €62.5 million 2021 ended.
Earlier in the day, CUMI acquired AWUKO Abrasives Wandmacher Gmbh & Co. Announced the purchase of the core assets of KG (AWUKO) for €8 million. Currently, AWUKO is going through insolvency process in Germany.
“AWUKO is a 120-year leading brand in the coated-abrasive business. AWUKO is a market leader in leather and wood applications with a strong presence in metal and lacquer applications,” said Mr. Rangarajan.
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