CUMI to buy all shares in Cellaris Refractories JV

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Published: Monday, 04 August 2014

The move to purchase all shares from Israel’s Cellaris Ltd underlines the Indian refractories company’s commitment to the market. Although its latest results show stagnant growth, it is looking to expand its offering and is preparing for a boost in demand.

Indian abrasives producer Carborundum Universal Ltd (CUMI) intends to buy all outstanding shares of its JV set up with Israeli partner Cellaris Ltd, Cellaris Refractories India Ltd.

A letter of intent was sent to...

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