The German Winter group, based in Hamburg, has agreed to sell nearly all of its operations to Saint-Gobain, the French glass producer, and a unit of De Beers Centenary AG, a German unit of the South A…
The German Winter group, based in Hamburg, has agreed to sell nearly all of its operations to Saint-Gobain, the French glass producer, and a unit of De Beers Centenary AG, a German unit of the South African mining concern. The French company said it was acquiring the world-wide production and distribution of super-abrasive tools including a majority stake in Winter USA and stakes in various joint ventures held by the Winter group. The units of Winter acquired have a turnover of about DM 230 million and employ more than 1,000 staff. De Beers Industrial Diamond Division, through its Megapode unit, will acquire Winter“s super-abrasive distribution business in Germany, as well as Winter“s joint ventures in other countries. Winter group is retaining a minority stake in Winter USA and its entire Winter do Brasil unit.