Carborundum Universal Limited — JV/Acquisition, 30-10-2024: Acquisition

Carborundum Universal Limited has successfully acquired Silicon Carbide Products LLC, paying USD 6.87 million for full ownership. This strategic acquisition enhances CUMI’s Ceramics Business by expanding its market presence and technological capabilities in producing Nitride Bonded Silicon Carbide products. The deal includes adjustments based on financial verifications, with a holdback amount of USD 0.65 million held in escrow. Silicon Carbide Products LLC is now a wholly-owned subsidiary, positioned to bolster CUMI's operations in the Americas.