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Carborundum Universal acquires Canadian company

MUMBAI: Carborundum Universal has informed the Bombay Stock Exchange that the company had acquired the business of Abrasive Enterprise, a closed held company at Summerside, Canada. The acquisition was completed through a 100 per subsidiary, CUMI, Canada for an aggregate investment of Canadian dollar 2.5 million. AEI, manufacturer, convertor of coated abrasives and other abrasive products, is exporting its products to North American markets. With this acquisition, CUMI is well placed to exploit the large North American markets with its range of bonded and coated abrasive products.

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