Carborundum Universal acquires Canada's third-largest abrasive products manufacturer
By Our Corporate Bureau | 21 Feb 2006
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Carborundum Universal Ltd has acquired the business of Abrasive Enterprise Inc (AEI), a closely held company in Canada. The acquisition was completed through a 100 per cent subsidiary, CUMI Canada Inc, for C$2.25 million.
AEI, a manufacturer and converter of coated abrasives and other abrasive products, exporting to North American markets, has a turnover of C$6 million and is the third largest manufacturer in the North American floor sanding market, employing 35 people and growing at over 20 per cent in the last three years.
With this acquisition, CUMI is strategically well placed to exploit the large North American market with its range of bonded and coated abrasive products.
