Carborundum to buy assets of Germany's coated abrasives maker Awuko for EUR 6-M

Murugappa Group's abrasives and industrial ceramics maker Carborundum Universal Ltd (CUMI) has entered into an agreement with the Insolvency Administrator of Germany-based Awuko Abrasives Wandmacher GmbH, a 120-year-old brand in coated abrasives business, to buy the company's main assets for about 6.01 million euros. The assets include land & building, plant & machinery, fixed assets, leased assets, brands & trademarks, patents, technical know-how and other intangible assets but excludes cash and receivables. Awuko is a player in leather and wood applications with strong presence in metal and lacquer applications.