CUMI officially merges with Cellaris Refractories
Published: Wednesday, 30 September 2015
The Indian company, part of the Murugappa Group, has officially been informed by the High Court of Madras that it has sanctioned and confirmed the merger of its Israel-based joint venture partner, Cellaris, a refractories specialist.
India-based abrasive and global
refractories supplier Carborundum Universal Ltd (CUMI) has
officially merged with its joint venture (JV) partner, Cellaris
Ltd (CRIL), after buying it out.
As a consequence of the merger, CRIL has
ceased to be a subsidiary of the company.
Commenting on the news, CUMI managing director, K