Carborundum sells closed Chennai unit for Rs 58 crore

Mumbai: Carborundum Universal Ltd, which commissioned a state-of-the-art coated abrasives manufacturing facility at Sriperumbudur near Chennai in December 2006, has now sold off land and its manufacturing facility near Chennai for Rs 58 crore.

The manufacturing operations of the coated abrasives plant at Pallikaranai near Chennai was discontinued subsequently and the plant was closed this month, the company said in a statement issued to the Bombay Stock Exchange (BSE).

The company has now disposed of the land and building at Pallikaranai for a consideration of about Rs 58 crore, the statement said.