Chennai, Aug 21 (UNI) Carborundum Universal Limited has entered into a Business Purchase Agreement with IVP Limited to acquire its Industrial Ceramics Division, as a going concern, subject to fulfillment of statutory and other formalities.
A company release here said the deal was expected to be concluded shortly.
The Ceramics Division of IVP Ltd, located at Aurangabad, manufactured a range of High Alumina Engineered Ceramic products like ignitors, seals, thread guides and nozzles with technology from Feldmuhle Germany.
Carborundum, the largest High Alumina Ceramic manufacturing company in the country, would bring to this business its market access, scale of operations and management. This would benefit the IVP-Ceramics' customers and employees, the release said.
The addition of IVP Ceramic products to Carborundum's portfolio would enhance its product offerings in this space and make it more attractive to both the domestic and international customers, it added.
UNI
A company release here said the deal was expected to be concluded shortly.
The Ceramics Division of IVP Ltd, located at Aurangabad, manufactured a range of High Alumina Engineered Ceramic products like ignitors, seals, thread guides and nozzles with technology from Feldmuhle Germany.
Carborundum, the largest High Alumina Ceramic manufacturing company in the country, would bring to this business its market access, scale of operations and management. This would benefit the IVP-Ceramics' customers and employees, the release said.
The addition of IVP Ceramic products to Carborundum's portfolio would enhance its product offerings in this space and make it more attractive to both the domestic and international customers, it added.
UNI
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