Carborundum Universal’s step down wholly owned subsidiary -- CUMI Abrasives GmbH (CAG), Germany has entered into a binding Share Purchase Agreement (SPA) to buy 100% stake in RHODIUS Abrasives, Germany (RHODIUS) at an enterprise value of 55 million Euros (Rs 464 crore indicative) from Gebrüder Rhodius GmbH & Co. KG. The transaction is expected to be completed by the end of March 2022.
The completion of the acquisition is subject to meeting the closing conditions as per the terms of the SPA which includes registration of immovable property belonging to the RHODIUS Abrasives business in favor of CAG by the sellers. The company is a party to the SPA in its capacity as Purchaser Guarantor for the purchase price payment obligations of CAG.
Carborundum Universal pioneered the manufacture of Coated Abrasives and Bonded Abrasives in India in addition to the manufacture of Super Refractories, Electro Minerals, Industrial Ceramics and Ceramic Fibres.
Company Name | CMP |
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Carborundum Univer. | 1442.80 |
Grindwell Norton | 2090.70 |
Wendt India | 13176.00 |
Alirox Abrasives | |
John Oakey & Mohan Ltd. | |
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