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India - IFGL Refractories buys Germany's Hofmann Ceramic

MUMBAI - IFGL Refractories Ltd said on Thursday it has acquired Germay's Hofmann Ceramic GmbH to diversify into the foundry business.

The financial terms of the deal were not disclosed.

The deal, to be executed through IFGL's UK step-down subsidiary Monocon International Refractories Ltd, also includes acquisition of Hofmann's subsidiaries in UK and Czech Republic.

Hofmann makes ceramic filters and other refractories for the foundry industry.

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