Sep 26 2003
GE are to sell their GE Superabrasives business to the private investment company Littlejohn Fund II. Details of the transaction were not disclosed, with the transaction due to close on January 31, 2004, pending regulatory approvals.
GR Superabrasives are a leading manufacturer of materials such as diamond, cubic boron nitride and other polyscrystalline products.
GE decided to divest the company as it did not fit with its long term plan. Under the new ownership it will have a better opportunity to grow.
Littlejohn will rename the business after the transaction has closed.
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