CUMI acquires 84% stake in Russian company for Rs 150 cr
Carborundrum Universal Ltd (CUMI), the flagship company of Murugappa group, today announced acquiring 84 per cent of stake in a Russian firm for $ 37 million.
By PTI |
CHENNAI: Carborundrum Universal Ltd (CUMI), the flagship company of Murugappa group, today announced acquiring 84 per cent of stake in a Russian firm for $ 37 million (about Rs 150 crore).
The company bought the stake in Voishsky Abrasive Works (VAW), based in Volgograd, through its group company CUMI International Ltd, a company release said.
VAW is a leading producer of bonded abrasives products and refractories, with sales of USD 54 million during 2006.
The company bought the stake in Voishsky Abrasive Works (VAW), based in Volgograd, through its group company CUMI International Ltd, a company release said.
VAW is a leading producer of bonded abrasives products and refractories, with sales of USD 54 million during 2006.
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