| Carborundum Universal (CUMI) has entered into a binding
Share Purchase Agreement to acquire a 100% stake from existing equity shareholders of Silicon Carbide Products, Inc. USA (SCP) on 16 September 2024 at an Enterprise Value of USD 6.66 million (Rs 56 crore indicative). CUMI will incorporate a wholly owned subsidiary in
USA, which will act as the Special purpose vehicle (SPV) for this acquisition. The transaction is expected to be completed by the end of October 2024.
SCP, located in Horseheads, NY, USA, specializes in producing high-quality Nitride Bonded Silicon Carbide (NBSiC) products. NBSiC ceramics have superior wear and thermal shock resistance. SCP has over three decades of experience in providing customized solutions to customers in the USA and globally. Their product range serves industries such as power generation, mining, material handling/processing, non-ferrous molten metal transfer, and petrochemical refineries. Recognized for their technically superior firing and forming processes, SCP is a trusted supplier to leading industry players in these sectors. |