Carborundum to acquire ceramic division of IVP
Carborundum Universal enters into agreement to acquire industrial ceramics division of IVP Ltd.
By PTI |
MUMBAI: Graphite electrodes maker Carborundum Universal on Tuesday said it has entered into an agreement to acquire the industrial ceramics division of IVP Ltd.
The deal, meant for the acquisition of its industrial ceramics division located at Aurangabad in Maharashtra, was expected to be completed shortly, the company said in a filing to the Bombay Stock Exchange.
It manufactures a range of high alumina engineered ceramic products like ignitors and seals in technology from Feldmuhle Germany, the company said.
The division has the capacity to produce about Rs 12 crore worth of the products, it added.
The addition of the IVP Ceramic products to the company's portfolio would enhance its product offerings and make it more attractive to both the domestic and international customers, it added.
Scrip of the company on Tuesday closed 0.87 per cent down at Rs 175.90 on the BSE.
The deal, meant for the acquisition of its industrial ceramics division located at Aurangabad in Maharashtra, was expected to be completed shortly, the company said in a filing to the Bombay Stock Exchange.
It manufactures a range of high alumina engineered ceramic products like ignitors and seals in technology from Feldmuhle Germany, the company said.
The division has the capacity to produce about Rs 12 crore worth of the products, it added.
The addition of the IVP Ceramic products to the company's portfolio would enhance its product offerings and make it more attractive to both the domestic and international customers, it added.
Scrip of the company on Tuesday closed 0.87 per cent down at Rs 175.90 on the BSE.
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