Chennai, Dec. 8
Carborundum Universal Ltd has acquired a monolithic refractory unit and a high quality cement refractory unit at Jabalpur, Madhya Pradesh, according to information provided by the company to the stock exchange.
The cost of the two acquisitions is Rs 3.20 crore and they will provide CUMI with additional monolithic manufacturing capacity of about 12,000 tonnes. The units located in Central India will help the company address these markets. According to officials, the acquisition gives the Murugappa Group company long-term advantage with raw material for bulk castable cement available in Central India. Also, the consumers are concentrated there. The company has plans to scale up operations there to take a share of the Rs 150-crore market.