Carborundum Universal to acquire IVP Ltd's industrial ceramics division
By Our Corporate Bureau | 22 Aug 2007
Carborundum Universal Ltd (CUMI) has entered into a business purchase agreement with IVP Ltd, to acquire the industrial ceramics division at Aurangabad, Maharashtra, as a going concern subject to fulfilment of statutory and shareholder approval of the two companies.
The division manufactures and sells a range of high alumina engineered ceramic products like igniters, seals, thread guides, nozzles, etc, with technology from Feldmuhle Germany and has an installed capacity to produce these products worth an estimated market value of Rs12 crore annually.
The addition of the IVP Ceramic products to the CUMI portfolio will enhance its product offerings in this space and make it more attractive to both the domestic and international customers.
CUMI, the largest high alumina ceramic manufacturer in India, would bring to this business its market access, scale of operations and management.
The deal is expected to be completed shortly.
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